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5302 S Manhattan Place, Los Angeles, California 90062, Los Angeles, 90062 - bed, bath

5302 S Manhattan Place, Los Angeles, California 90062 home-pic-0
ACTIVE$989,888
5302 S Manhattan Place, Los Angeles, California 90062
0Bed
0Bath
2,612Sqft
5,677Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income-Generating Asset: The property features two separate homes, providing immediate and dual rental income potential for investors.
Top Cons:
Historic Property Age: Built in 1928, the property's age may imply potential for aging infrastructure (e.g., plumbing, electrical, roof) that could require significant capital expenditures in the future.

Compared to the nearby listings

Price:$989.9K vs avg $927.5K (+$62,388)56%
Size:2,612 sqft vs avg 2,313 sqft61%
Price/sqft:$379 vs avg $38944%

More Insights

Built in 1928 (97 years old).
Condition: Built in 1928, this property is nearly a century old. While the description mentions a fresh coat of paint and repairs are being carried out, there are no interior images to assess the condition of the kitchen, bathrooms, flooring, or other critical components. The lack of interior photos for a property of this age strongly suggests that these areas are significantly outdated and likely require substantial rehabilitation. The listing's emphasis on 'potential to enhance property value' and the possibility of 'constructing a brand-new apartment building' further indicate that the existing structures are not considered modern or high-quality assets, and would require significant investment beyond minor updates to meet current standards. While it's 'ready for immediate income generation,' this often means it's minimally habitable, not necessarily in good or fair condition.
Year Built
1928
Close
-
List price
$990K
Original List price
$950K
Price/Sqft
$379
HOA
-
Days on market
-
Sold On
-
MLS number
CV24106440
Home ConditionPoor
Features
View-

About this home

**Attention All Buyers!** We are excited to present this exceptional investment opportunity featuring a spacious **2 Separate Homes** with a **detached 4-car garage**—perfect for those looking to maximize their potential. The property is currently undergoing a fresh coat of paint, and repairs are being carried out by a professional contractor, ensuring a seamless transition for the next owner. This is your chance to acquire an **in-demand investment property** in a **prime location**! The property is ready for immediate income generation, making it an attractive option for savvy investors. With the right vision, there is also substantial potential to enhance property value and increase rental income. Consider the possibility of constructing a brand-new apartment building to capitalize on the thriving rental market in the area. Conveniently located near **restaurants, LAX, USC**, and a wealth of amenities, this property truly exemplifies a golden opportunity in real estate. Don't miss your chance to turn this amazing property into a lucrative venture! **Must See!!!** For more information or to schedule a viewing, call us today!

Price History

Date
Event
Price
09/25/01
Sold
$175,000
Condition Rating
Poor
Built in 1928, this property is nearly a century old. While the description mentions a fresh coat of paint and repairs are being carried out, there are no interior images to assess the condition of the kitchen, bathrooms, flooring, or other critical components. The lack of interior photos for a property of this age strongly suggests that these areas are significantly outdated and likely require substantial rehabilitation. The listing's emphasis on 'potential to enhance property value' and the possibility of 'constructing a brand-new apartment building' further indicate that the existing structures are not considered modern or high-quality assets, and would require significant investment beyond minor updates to meet current standards. While it's 'ready for immediate income generation,' this often means it's minimally habitable, not necessarily in good or fair condition.
Pros & Cons

Pros

Income-Generating Asset: The property features two separate homes, providing immediate and dual rental income potential for investors.
Strategic Location: Situated in a prime Los Angeles area, offering convenient access to restaurants, LAX, USC, and various amenities, which enhances rental demand and property value.
Value-Add & Development Potential: Significant potential exists to enhance property value and increase rental income, including the possibility of constructing a new apartment building on the lot.
Ample Parking/Storage: A detached 4-car garage provides substantial parking or storage space, a valuable amenity in an urban environment, with potential for future conversion.
Recent Professional Upgrades: Currently undergoing professional painting and repairs, indicating the property is being prepared for a seamless transition and immediate income generation.

Cons

Historic Property Age: Built in 1928, the property's age may imply potential for aging infrastructure (e.g., plumbing, electrical, roof) that could require significant capital expenditures in the future.
Recent Price Escalation: The listing price has recently increased from $949,888 to $989,888, which could indicate a less flexible seller or a higher entry point for investors, potentially impacting initial ROI.
Unspecified Major System Updates: While general repairs are mentioned, the description lacks specific details on updates to critical systems like plumbing, electrical, or HVAC, which is a common concern for properties of this age.

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