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    1575 Manning Avenue

    Los Angeles (City), CA 90024
    • $2,850,000
    • STATUS: Active
    • ON SITE: 55 days
    • ID#: SR21161155
    UPDATED: 11 min ago
    $2,850,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1947
    County:

    School Ratings & Info

    Description

    1575 Manning Avenue is a charming triplex located in the highly coveted Westwood neighborhood of Los Angeles. This investment opportunity presents an ideal income property for either an owner-user, or an investor looking to acquire a rare value-add asset. This is a rare offering in that ALL units are fully furnished! The property is comprised of three units in a two-story building built in 1947. This building totals +/- 4,138 square feet and is constructed of wood frame, pitched roof, and a painted stucco exterior. The building is situated on a spacious lot with rear yard & patio zoned LAR3 totaling +/- 6,500 square feet.All three units have been completely restored offering hardwood flooring, granite countertops, stainless appliances, and newer kitchen cabinets in two of the units. The buildings unit-mix is comprised of 1 two-bedroom/one-bathroom unit, and 2 three-bedroom/two-bathroom units. The buildings design is traditional-style architecture, and the property is perfectly situated in one of the most desirable sub-markets of Los Angeles just minutes away from Westwood Village. As a bonus the property offers potential for multiple ADUs and we have a preliminary study ready for review. Westwood Village, immediately adjacent to UCLA, is an iconic district of Los Angeles with historic points of interest that have made the village a famous destination since 1929. Cultural attractions include the Hammer Museum and Geffen Playhouse. Westwood is also the home to the UCLA Botanical Gardens as well as the famous Fox Village Theatre. The location is adjacent to other prime affluent areas including Beverly Hills, West L.A. and Century City! Property Highlights: All 3 Units are fully renovated | All units delivered furnished at close of escrow | Potential for multiple ADUs | Charming 40s architecture | Prime Westwood location | Nice 6,500 SF Lot/Zoned LAR3 with rear yard and patio area | Two enclosed 2 car garages & 4 uncovered parking spaces

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-16T20:32:10.51. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
    www.homesinthehighdesert.com/homes/119619118
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    1575 Manning Avenue Los Angeles (City), CA 90024

    • Price: $2,850,000
    • Status: Active
    • Updated: 11 min ago
    • ID#: SR21161155
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    1947
    Built
    Neighborhood:
    C05 - Westwood - Century City
    County:
    Los Angeles
    Area:
    C05 - Westwood - Century City
    Property Description
    1575 Manning Avenue is a charming triplex located in the highly coveted Westwood neighborhood of Los Angeles. This investment opportunity presents an ideal income property for either an owner-user, or an investor looking to acquire a rare value-add asset. This is a rare offering in that ALL units are fully furnished! The property is comprised of three units in a two-story building built in 1947. This building totals +/- 4,138 square feet and is constructed of wood frame, pitched roof, and a painted stucco exterior. The building is situated on a spacious lot with rear yard & patio zoned LAR3 totaling +/- 6,500 square feet.All three units have been completely restored offering hardwood flooring, granite countertops, stainless appliances, and newer kitchen cabinets in two of the units. The buildings unit-mix is comprised of 1 two-bedroom/one-bathroom unit, and 2 three-bedroom/two-bathroom units. The buildings design is traditional-style architecture, and the property is perfectly situated in one of the most desirable sub-markets of Los Angeles just minutes away from Westwood Village. As a bonus the property offers potential for multiple ADUs and we have a preliminary study ready for review. Westwood Village, immediately adjacent to UCLA, is an iconic district of Los Angeles with historic points of interest that have made the village a famous destination since 1929. Cultural attractions include the Hammer Museum and Geffen Playhouse. Westwood is also the home to the UCLA Botanical Gardens as well as the famous Fox Village Theatre. The location is adjacent to other prime affluent areas including Beverly Hills, West L.A. and Century City! Property Highlights: All 3 Units are fully renovated | All units delivered furnished at close of escrow | Potential for multiple ADUs | Charming 40s architecture | Prime Westwood location | Nice 6,500 SF Lot/Zoned LAR3 with rear yard and patio area | Two enclosed 2 car garages & 4 uncovered parking spaces
    Exterior Features

    Lot Features Back YardGarden Number Of Separate Electric Meters 0 Open Parking Spaces 4 Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Spa Features None Spa YN No View Neighborhood View YN Yes

    Interior Features

    Appliances Gas RangeMicrowave Common Walls 2+ Common Walls Fireplace Features None Fireplace YN No Flooring CarpetTileWood

    Property Features

    Additional Parcels YN No Cap Rate 3.23 Common Interest None Community Features BikingHikingParkStreet LightsSidewalks Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 133680 Gross Scheduled Income 133680 Insurance Expense 2069 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventionalContract Net Operating Income 91976 New Construction YN Yes New Taxes Expense 35625 Number Of Separate Gas Meters 0 Number Of Separate Water Meters 0 Operating Expense 37694 Property Condition Turnkey Property Sub Type Triplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 0 Water Source Public Zoning Lar3

    Listing provided courtesy of Raymond Rodriguez of Keller Williams Realty Calabasas and Jean-Paul Vines of Keller Williams Realty Calabasas


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-16T20:32:10.51. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Freedom. Licensed in the State of California, USA.
     
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