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2109 Manitou Ave
Los Angeles, CA 90031
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Good Lincoln Heights Location - Minutes Away from DTLA
- Excellent Unit Mix
- Five of Eight Units are Renovated
- Not Subject to LA City Rent Control
- One Unit Delivered Vacant
- On-Site Parking and Laundry
Executive Summary
Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 2109 Manitou Ave in Los Angeles, California. The subject property is located in a good Lincoln Heights location, south of N Broadway and West of Griffin Ave.
Located in Lincoln Heights just minutes from Downtown LA, this property offers strong accessibility and long-term upside. The asset is not subject to Los Angeles City rent control and features an excellent unit mix of two one-bedroom, four two-bedroom, and two three-bedroom units, with one unit delivered vacant. Five of the eight units have been renovated. Units are separately metered for gas and electricity and include individual water heaters. The property offers fourteen covered, gated on-grade parking spaces and on-site laundry. Tenants benefit from proximity to major corridors, freeways, Metro access, parks, and popular local amenities including cafes, retail, and Dodger Stadium nearby.
With RSO exemption, strong in-place income, one vacancy for immediate upside, and a well-located position in Lincoln Heights, this asset presents a compelling and flexible investment opportunity.
For OM, please visit: https://www.lamultifamilydeals.com/properties/2109-manitou-ave
Located in Lincoln Heights just minutes from Downtown LA, this property offers strong accessibility and long-term upside. The asset is not subject to Los Angeles City rent control and features an excellent unit mix of two one-bedroom, four two-bedroom, and two three-bedroom units, with one unit delivered vacant. Five of the eight units have been renovated. Units are separately metered for gas and electricity and include individual water heaters. The property offers fourteen covered, gated on-grade parking spaces and on-site laundry. Tenants benefit from proximity to major corridors, freeways, Metro access, parks, and popular local amenities including cafes, retail, and Dodger Stadium nearby.
With RSO exemption, strong in-place income, one vacancy for immediate upside, and a well-located position in Lincoln Heights, this asset presents a compelling and flexible investment opportunity.
For OM, please visit: https://www.lamultifamilydeals.com/properties/2109-manitou-ave
Property Facts
| Price Per Unit | $284,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.32% | Building Size | 7,152 SF |
| Gross Rent Multiplier | 9.98 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1989 |
| Property Type | Multifamily | Parking Ratio | 1.96/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LARD3 - 0500 - 5 Or More Apts or Units, Coop or Oyo Projects - 4 | ||
| Price Per Unit | $284,375 |
| Sale Type | Investment |
| Cap Rate | 6.32% |
| Gross Rent Multiplier | 9.98 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,152 SF |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.96/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD3 - 0500 - 5 Or More Apts or Units, Coop or Oyo Projects - 4 |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 550 |
| 2+1 | 2 | - | 700 |
| 3+2 | 2 | - | 1,100 |
| 2+2 | 2 | - | 750 |
Property Taxes
| Parcel Number | 5204-006-018 | Improvements Assessment | $602,433 |
| Land Assessment | $692,440 | Total Assessment | $1,294,873 |
Property Taxes
Parcel Number
5204-006-018
Land Assessment
$692,440
Improvements Assessment
$602,433
Total Assessment
$1,294,873
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