139 S Manhattan, Los Angeles, California 90004, Los Angeles, 90004 - 0 bed, 0 bath
Loading property details...
Los Angeles, California 90004
This Value-Add Quadruplex Asset is listed at $1,850,000, offering a strategic foothold in the high-demand Hancock Park-Wilshire area. While the $1,566,350 Fair Market Value reflects its current Condition Rating of 5 and deferred maintenance, the property’s substantial scale—featuring over 5,200 sqft and rare large 3-bedroom units—presents significant upside for forced appreciation. Enhanced by a City Lights view and proximity to top-rated schools like Third Street Elementary, the asset is primed for modernization to capture peak market rents. This is an ideal acquisition for Buy-and-Hold Investors and Value-Add Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 139 S Manhattan Subject | $1,850,000* List Price | 0 | 0 | 5,204 | $301 | - |
A 109 S Catalina Street Active | $1,600,000 List Price | 0 | 0 | 5,540 | $289 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1921 with no evidence of recent major renovations. The exterior shows significant deferred maintenance, including cracked concrete and weathered wooden stairs. The 'value-add' description and lack of interior photos typically indicate dated kitchens, baths, and systems requiring a full rehab to achieve market rents.
The property features large three-bedroom units, a rare and highly sought-after configuration in the Koreatown rental market that attracts stable, long-term tenants.
With clear upside through rental increases and strategic renovations, this asset offers investors a strong path toward long-term appreciation and increased cash flow.
Boasting over 5,200 square feet of living space in the high-demand Hancock Park-Wilshire area, the property combines substantial scale with a central, walkable location.
Built in 1921, the property likely requires ongoing maintenance and capital expenditures to update century-old systems such as plumbing, electrical, and roofing.
As a multi-family property in Los Angeles built before 1978, it is subject to the City's Rent Stabilization Ordinance (RSO), which restricts the pace of rental increases for existing tenants.
Strong Income with Value-Add Potential in Prime Koreatown This income-producing 4-unit property offers a highly desirable unit mix of large 3-bedroom units in a prime Koreatown location. With stable in-place income and clear upside through rental increases, this is an ideal opportunity for investors seeking both immediate cash flow and long-term appreciation.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.7 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 5,204 | 4,334 | 50% |
| Lot Size | 6,637 | 7,391.5 | 25% |
| Price | $1.85M | $1.12M | 75% |
| Price per sq ft | $355 | $307 | 75% |
| Built year | 1921 | 1922 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 0 | 105 | 50% |
Apr 22, 2026
$1,850,000
Initial Listing
Dec 29, 2017
$1,425,000
Public Record
Jun 21, 2002
$385,000
Public Record