30
See all 30 photos
$1,650,000
Est. payment /mo
12 Beds
8 Baths
Price Dropped by $49K
5507 S Manhattan Place Los Angeles, CA 90062
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID BB25087688
Bedrooms 12
Property Sub-Type Res Income 2-4 Units
Property Description
Calling all investors Dont miss this rare chance to own a fully upgraded 4-unit income property featuring two duplexes on a 6055 sq foot lot. The unique set up features one newly built and one beautifully updated Spanish classic. The rear duplex, built in 2024, offers two units with approx. 1,200 sq ft each, 3 bedrooms and 2 bathrooms. These modern units boast 16-ft ceilings, recessed lighting, wide plank vinyl flooring, dual-pane windows, tankless water heaters, in-unit washer/dryer hookups, fully paid-off solar panels, and fire suppression systems. The front Spanish-style duplex, built in 1923, retains its vintage charm while offering updated comfort. Each unit features 3 bedrooms and 2 bathrooms within approx. 918 sq ft, with new vinyl flooring, upgraded countertops, and in-unit laundry hookups. Additional improvements include a new roof (2016) and electrical panel upgrade (2024). Copper plumbing runs throughout, and each unit has its own electric subpanel and independent electric meter, ensuring complete control over utilities. With a cap rate of 7.33% and a gross rent multiplier (GRM) of 10.7, this asset presents strong current returns and long-term appreciation in a high-demand rental market. This property is one of three 4-unit investment properties available in a portfoliooffering great opportunity for buyers looking to invest in an individual or multiple income-generating assets. Centrally located near shopping malls, major freeways, Park Mesa Heights, SOFI Stadium, Downtown LA, USC, Crypto Arena, the upcoming Los Angeles Clippers Stadium, and more. A must-see inc
Location
State CA
County Los Angeles
Zoning Assessor
Direction West of Western Avenue / North of Slauson Avenue
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5505025026
Listed by Brenda Hailey eXp Realty of Greater Los Angeles, Inc.