5718 S Manhattan Place, Los Angeles, California 90062, Los Angeles, 90062 - bed, bath
ACTIVE$1,199,000
5718 S Manhattan Place, Los Angeles, California 90062
0Bed
0Bath
2,854Sqft
5,960Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High & Stable Income: The property generates a strong monthly income of $9,898 and is 100% occupied by low-maintenance tenants, ensuring immediate and stable cash flow for investors.
Top Cons:
Significant Price Reductions: The listing has undergone multiple price reductions from an original list price of $1.349M to the current $1.199M, which may indicate initial overpricing or challenges in attracting buyers at higher valuations.
Compared to the nearby listings
Price:$1.20M vs avg $927.5K (+$271,500)72%
Size:2,854 sqft vs avg 2,313 sqft61%
Price/sqft:$420 vs avg $40550%
More Insights
Built in 1923 (102 years old).
Condition: Despite the original build year of 1923, the listing explicitly states 'two fully remodeled units' and 'two brand-new construction units.' The images confirm this, showcasing entirely new and modern kitchens with white/gray shaker cabinets, quartz countertops, new stainless steel appliances (some still with protective film), and contemporary fixtures. Bathrooms are also fully updated with modern vanities and subway tile showers. Throughout the units, there is new wood-look laminate flooring, fresh paint, modern lighting (recessed, pendant, ceiling fans), and efficient mini-split AC systems. The property appears to have undergone extensive renovation and new construction within the last 5 years, meeting current quality standards with virtually new components and no deferred maintenance.
Year Built
1923
Close
-
List price
$1.2M
Original List price
$1.35M
Price/Sqft
$420
HOA
-
Days on market
-
Sold On
-
MLS number
OC25184435
Home ConditionExcellent
Features
View-
About this home
$9,898/Month Income – Fully Occupied 4-Unit in Prime Los Angeles. Turnkey investment with two fully remodeled units in the front building and two brand-new construction units in the back. 100% occupied by low-maintenance tenants generating strong cash flow from day one. Unit mix: 2 × 2 bed/1 bath, 2 × 1 bed/1 bath. Excellent location near DTLA, USC, and SoFi Stadium with strong rental demand and long-term appreciation potential. No work needed — just collect the rent.
Price History
Date
Event
Price
10/18/22
Sold
$500,000
Condition Rating
Excellent
Despite the original build year of 1923, the listing explicitly states 'two fully remodeled units' and 'two brand-new construction units.' The images confirm this, showcasing entirely new and modern kitchens with white/gray shaker cabinets, quartz countertops, new stainless steel appliances (some still with protective film), and contemporary fixtures. Bathrooms are also fully updated with modern vanities and subway tile showers. Throughout the units, there is new wood-look laminate flooring, fresh paint, modern lighting (recessed, pendant, ceiling fans), and efficient mini-split AC systems. The property appears to have undergone extensive renovation and new construction within the last 5 years, meeting current quality standards with virtually new components and no deferred maintenance.
Pros & Cons
Pros
High & Stable Income: The property generates a strong monthly income of $9,898 and is 100% occupied by low-maintenance tenants, ensuring immediate and stable cash flow for investors.
Turnkey Investment: Described as a 'turnkey investment' with 'no work needed,' this property is ready for immediate income generation without requiring initial renovations or repairs from the buyer.
Modernized Units: The property features two fully remodeled units in the front building and two brand-new construction units in the back, offering modern amenities and reducing immediate maintenance concerns.
Strategic Location: Its excellent location near Downtown LA (DTLA), USC, and SoFi Stadium ensures strong rental demand and contributes to long-term appreciation potential.
Long-Term Appreciation Potential: The prime Los Angeles location, coupled with strong rental demand, positions the property for significant long-term appreciation in value.
Cons
Significant Price Reductions: The listing has undergone multiple price reductions from an original list price of $1.349M to the current $1.199M, which may indicate initial overpricing or challenges in attracting buyers at higher valuations.
Substantial Price Increase Since Last Sale: The property sold for $500,000 in October 2022 and is now listed at $1.199M. While renovations are noted, this dramatic increase in a short period warrants thorough due diligence on the scope and quality of improvements relative to the new asking price.
Age of Original Structure: Despite recent remodels and new construction, the front building's original structure dates back to 1923, which could potentially lead to unforeseen maintenance issues in older, un-updated components or infrastructure.