921 Manzanita St - Residential LAND FOR SALE


Los Angeles, CA 90029- Silver Lake7,314 SF
$2,700,000 USD
619-308-6860
921 Manzanita St, Los Angeles, CA for Sale
$2,700,000 USD
Residential LAND - FOR SALE
1/7
7,314 SF

921 Manzanita St
Los Angeles, CA 90029
Silver Lake


HIGHLIGHTS

  • RTI Permits Approved: Fully entitled for 27-unit, 5-story RCFE with no discretionary approvals remaining.
  • Turnkey Construction Option: Seller will manage 14-month build post-close under pre-negotiated contract.
  • Premium Location: Near Kaiser Permanente, Hollywood Presbyterian, and Children’s Hospital LA.
  • Boutique Design: Only 6 units per floor with private baths and luxury shared spaces.
  • SBA 504 Eligible: Financing available with 15–20% down for qualified operators.
  • Income-Producing During Hold: Existing duplex earns $96K/year, offsetting carry costs.

OVERVIEW

Price: $2,700,000 Total Units: 27 (with potential to expand to 31–33 by converting common areas) Current Structure: 2,297 SF duplex generating $96,000 gross income and $72,000 NOI annually Lot Size: 7,313 SF Entitlements: Fully RTI-approved for five-story RCFE; grading sign-off pending (expected within weeks) Construction Budget Estimate: $5,000,000 Timeline: 14 months from start to delivery Build Structure: Turnkey option available – seller (licensed contractor) will build post-closing under executed construction contract Financing: SBA 504 loan eligible; 15–20% down for qualified operators Pro Forma Highlights (based on approved 27-unit layout): Gross Income: $3,072,800 annually Projected NOI: $834,072 Annual Debt Service (Sample): $596,064 at 7.5% over 20 years Estimated Value at Stabilization: $9,267,467 (based on 9% cap rate) Down Payment Estimate: $1,540,000 (20% of $7.7M total project cost) Loan Estimate: $6,160,000 SBA loan This property offers multiple exit and use strategies. The buyer may proceed with the existing RTI plan, build to suit for another healthcare model, or lease to a third-party operator upon completion. Common area conversion to increase occupancy can drive higher revenue at scale. Construction and entitlement risks have been eliminated. The offering delivers maximum flexibility with minimal operational risk and a fast path to project completion. All public utilities are in place. The approved plans include ADA-compliant parking, a commercial elevator, a landscaped courtyard, and high-efficiency residential systems. The boutique footprint ensures the operator can maintain high care standards without the operational complexity of larger institutional facilities. This makes it particularly well-suited for local or regional RCFE owners expanding into the high-end, concierge care segment. A comprehensive digital packet, proforma, and floor plans are available upon request. KW Commercial and My ALF Consultant are pleased to advise qualified buyers through contract, financing, and licensing considerations.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/ACRE

$16,082,593/AC

PRICE/SF

$369 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

ALF Development | RTI Approved | 27+ Units

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Residential

LAND PROPOSED USE

Apartment Units - Senior, Health Care, Hold for Development, Planned Unit Development

LAND ACRES

0.17 AC

LAND SF

7,313 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation

ZONING

R3-1VL

APN/PARCEL ID

5427-003-008

ASK ABOUT THIS PROPERTY

Christopher ParrinoKW CommercialMore Info
619-308-6860

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Christopher ParrinoKW CommercialMore Info
619-308-6860

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