7605 W Manchester Ave - Multi-Family FOR SALE


Playa Del Rey, CA 90293
$5,250,000 USD
310-776-0564
7605 W Manchester Ave, Playa Del Rey, CA for Sale
$5,250,000 USD
Multi-Family - FOR SALE
1/25
null | 5.73% Cap Rate

7605 W Manchester Ave
Playa Del Rey, CA 90293


HIGHLIGHTS

  • NO LOCAL RENT CONTROL
  • First time for sale since development
  • Ideal Westside location
  • Fantastic unit mix
  • Great in-place cap rate with growth potential
  • Well cared for by original owner

OVERVIEW

First time offered for sale since its construction in 1985. A 14-unit gem NOT SUBJECT TO LOCAL RENT CONTROL. 7605 W Manchester Ave is situated in the heart of Playa Del Rey along a quiet stretch of Manchester Avenue with easy access to local beaches as well as to the broader Westside and major freeways. The property was built in 1985 and is being sold by the original developer. 7605 W Manchester features two levels of residential units above a secured, on-grade parking garage with 25 parking spaces for the 20 total bedrooms on premises. Unit mix consists of (4) 2+2, (2) 2+1.5 townhouse, (2) 1+1+Den and (6) 1+1 layouts. There is secured access throughout the property leading to a charming central courtyard with communal space for tenants. There is on-site laundry with no laundry lease. The property also has building-wide filtered water for all residents. Electrical main and sub-panels were manufactured by Crouse-Hinds. From an investment perspective, 7605 W Manchester offers a day-one cap rate of 5.73% with a low expense ratio and the opportunity to further renovate units to achieve even greater income. For investors seeking a quality, well-located and well-cared for multifamily asset that is not subject to the CIty of LA's Rent Stabilization Ordinance, 7605 W Manchester offers a rare and ideal opportunity for immediate cashflow and long term appreciation.

FOR SALE DETAILS

PRICE

$5,250,000 USD

PRICE/SF

$412 USD /SF

# OF UNITS

14

PRICE/UNIT

$375,000

CAP RATE

5.73%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14 Units in Prime PDR, NO LOCAL RENT CONTROL!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,347 SF

ZONING

R3

APN/PARCEL ID

4114-024-029

ASK ABOUT THIS PROPERTY

Rob RenshawRE/MAX Commercial & Investment RealtyMore Info
310-776-0564

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Rob RenshawRE/MAX Commercial & Investment RealtyMore Info
310-776-0564

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.