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Manchester Apartments 8324 W Manchester Ave 8 Unit Apartment Building $2,875,000 ($359,375/Unit) 5.32% Cap Rate Playa Del Rey, CA 90293
INVESTMENT HIGHLIGHTS
- 5.32% CAP on Actual | 12.58 GRM
- Seismic Retrofitting Completed
- Long-term hold by current owner since 2005 (20 years)
- LAX Proximity – blocks to the beach, access to West LA and South Bay
EXECUTIVE SUMMARY
8324 W. Manchester Avenue is a well-maintained eight-unit apartment building strategically located in the heart of Playa del Rey, one of Los Angeles’s most desirable coastal communities. Built in 1959, this classic mid-century property sits on a 7,375 SF lot and offers 5,789 SF of living space. The building features a diverse unit mix with studio, one-bed, two-bed and three-bed units, providing comfortable living spaces for long-term residents.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,875,000 | Apartment Style | Low-Rise |
| Price Per Unit | $359,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.32% | Building Size | 9,583 SF |
| Gross Rent Multiplier | 12.58 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1959 |
| Property Type | Multifamily | Parking Ratio | 1.38/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | LAR3 | ||
| Price | $2,875,000 |
| Price Per Unit | $359,375 |
| Sale Type | Investment |
| Cap Rate | 5.32% |
| Gross Rent Multiplier | 12.58 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 9,583 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.38/1,000 SF |
| Zoning | LAR3 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Freezer
- Patio
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | $2,100 | - |
| 1+1 | 4 | $2,095 | - |
| 2+1 | 2 | $2,595 | - |
| 3+2 | 1 | $3,120 | - |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 4118-004-007 | Total Assessment | $2,336,846 (2025) |
| Land Assessment | $2,049,872 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $286,974 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
4118-004-007
Land Assessment
$2,049,872 (2025)
Improvements Assessment
$286,974 (2025)
Total Assessment
$2,336,846 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Manchester Apartments | 8324 W Manchester Ave
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