1581 Manning Ave - Apartments FOR SALE


Los Angeles, CA 90024- Westwood
$1,995,000 USD
1581 Manning Ave, Los Angeles, CA for Sale
$1,995,000 USD
Apartments - FOR SALE
1/6
null | 3.09% Cap Rate

1581 Manning Ave
Los Angeles, CA 90024
Westwood


HIGHLIGHTS

  • A rare combination of architectural character, privacy, and investment potential in prime Westwood
  • Fully occupied and situated in a quiet residential neighborhood
  • Current rents offer approximately 23% future upside

OVERVIEW

A rare combination of architectural character, privacy, and investment potential in prime Westwood. Set on an up-sloping lot, this classic mid-century four-unit property features a unique staggered design, with each residence positioned on its own level, creating an uncommon sense of separation and privacy. The favorable unit mix includes two spacious one-bedroom residences, one single, and an expansive two-bedroom, two-bathroom "Owner's Unit" with private backyard. Tastefully remodeled with modern finishes, the Owner's Unit features an open-concept kitchen, recessed lighting, distinctive wraparound brick fireplace, and central HVAC. Throughout the property, large windows provide abundant natural light, original hardwood floors have been beautifully maintained, and each of the four units enjoys its own in-unit laundry. The other residences feature individual window/wall A/C units. Four enclosed garage spaces plus additional tandem parking provide excellent convenience, while a brand-new roof represents an important recent improvement. Fully occupied and situated in a quiet residential neighborhood just moments from UCLA and an extensive collection of nearby shops, restaurants, cafes, and amenities, the property benefits from exceptionally strong and stable rental demand. Current rents offer approximately 23% future upside, creating an attractive opportunity for both owner-users and investors. Stylish, spacious, private, and incredibly well located, 1581 Manning Avenue is a compelling Westwood multifamily offering with meaningful long-term upside. * Buyer to independently verify the feasibility of recovering possession of the "Owner's Unit" for owner occupancy.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$268 USD /SF

# OF UNITS

4

PRICE/UNIT

$498,750

CAP RATE

3.09%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1952

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,490 SF

ZONING

LAR3

APN/PARCEL ID

4325-031-016

ASK ABOUT THIS PROPERTY

Allen RothSotheby's International Realty LLCMore Info

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