5507 5509 S Manhattan Place
Los Angeles, CA 90062
- – beds
- – baths
- – sqft
- 6,055 sqft lot
- 1923 build
- – on site
The Montecito presents a rare investment opportunity that marries both a charming Spanish style front duplex with a newly developed and modern rear duplex comprised of two new spacious Townhome ADUs. Priced to sell at an attractive 6.58% cap rate. This investment opportunity presents an ideal income property for a savvy investor looking to acquire a well-positioned asset with a 9.90% rental upside potential with an attractive private financing option. This high-income producing 4-plex is comprised of 2 (3+2) units in a one-story building built in 1923, averaging ±918 sq ft, and 2 (3+2) newly developed townhouse ADU units built in 2024 averaging ±1,200 sq ft each. The combined building structure is ±4,236 square feet. The structures sit on a ±6,055 square foot lot, zoned LAR2. Additionally, 50% of the units are non-rent control. Unit Improvement Summary includes: 3-Bedroom + 2-Bath Units: One of the front units has been highly improved with new countertops, wood like flooring and stainless steel appliances. Both units offer laundry rooms with washer/dryer hookups and individual hot water heaters. In 2016, the roof was replaced, and in 2024, ownership upgraded the electrical panels. 3-Bedroom + 2-Bath Tri-Level Townhome Units: Both newly constructed Townhome ADUs are immaculate and were developed in 2024 with sophistication and efficiency in mind. Each unit offers soaring 16’ vaulted ceiling, accompanied by recessed lighting that illuminates the wide plank eco-friendly vinyl wood flooring with in-suite washer and dryer hook-ups. Both townhomes are equipped with fire suppression systems and ownership installed solar panels, along with tankless water heaters, making these units not only beautiful, but energy efficient. The solar panels are owned. There is no debt or lease obligation associated with the solar panels. Location Description The Montecito is located at 5507-09 S. Manhattan Place in the vibrant and emerging submarket of South Los Angeles adjacent to Park Mesa Heights. The property is conveniently close to Leimert Park and just south of The University of Southern California. Located on the 5500 block of S. Manhattan Place, the property is situated between W. 54th St and W. Slauson Ave., just east of S. Van Ness Ave.
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Last updated Feb 20, 2025
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MLS# SR25036537 —
The Building
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Year Built:1923
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Year Built Source:Public Records
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New Construction:No
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Building Area Total:4236.00
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Building Area Units:Square Feet
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Total Number Of Units:4
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# of Buildings:2
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Stories Total:3
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:4
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# of Separate Electric Meters:4
Interior
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Entry Location:1
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Laundry:Inside
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Laundry:1
Location
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Directions:5507-5509 S Manhattan Pl., Los Angeles, California 90062
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Latitude:33.99207300
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Longitude:-118.31046100
The Property
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Property Type:Residential Income
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Subtype:Quadruplex
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Zoning:LAR2
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Lot Features:Rectangular Lot
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Lot Size Area:6055.0000
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Lot Size Acres:0.1390
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Lot Size SqFt:6055.00
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Lot Size Source:Public Records
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:2325.00
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Tax Lot:795
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5005025026
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Urban
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking:No
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Parking:Street
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/18/25
Feb 18, 2025
|
Listed / Active | CRMLS_CA | $1,750,000 |
