$4,950,000 Price Analysis   ♡   Los Angeles, CA 90005 9 bed 21 bath 11,965 SqFt ($413/SqFt) 7,503SqFt lot. Built 1936 Listed 2024-01-31, Taxes $47,318 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are pleased to present a nineteen (19)
Unit apartment building located at 722 S Manhattan Place n Los Angeles, California. The subject property is located in a prime Koreatown location south of Wilshire Boulevard and west of S Western Avenue. Built in 1936, this property contains a fantastic unit mix of twelve (12) studio / one-bathroom units, five (5) one-bedroom / one-bathroom units and two (2) two-bedroom / two-bathroom units. The property is gated and secure with character, French Normandy style architecture in an area that is surrounded by new construction south of Wilshire Boulevard.
Tenants will love living in the heart of Koreatown; down the street from some of the trendiest retail, restaurant and entertainment amenities in Los Angeles. The neighboring properties include a new construction 160-unit complex with luxury amenities and a vacant lot with permits in progress for a new 60-unit, 59, 666 SF 7-story edifice. Situated in a prime Koreatown location, this offering presents an excellent opportunity for any investor to capitalize on a rare, mid-size residential asset with interest assumable financing at an attractive 5.09% interest rate in o ne of the trendiest markets of Los Angeles.
Presented by Jason Tuvia at
Marcus & Millichap.
Property MLS #24-353693 from TheMLSCLAW
Full Bathrooms: 21
Laundry Features: Laundry Area
Heating Features: Wall
Lot Size Acres: 0.1722452
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7503
Vacancy Allowance: 11614
Calculated Total Monthly Association Fees: 0
Number of Units: 19
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 1858, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2150, 3 BedsTotal: 2, 3 BathsTotal: 2, 3 SquareFeet: 2800
Source Listing Status: Active
County: Los Angeles
Cap Rate: 5.54
Directions: The subject property is located in a prime Koreatown location south of Wilshire Boulevard and west of S Western Avenue.
Source Property Type: Residential Income
Area: Hancock Park-Wilshire
Source Neighborhood: Hancock Park-Wilshire
Parcel Number: 5093-004-011
Postal Code Plus 4: 3173
Property Location: City
Zoning: LAR4
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,222,309 + $2,680,504 $3,902,813 | $47,318 |
| 2021 | $1,198,343 + $2,627,946 $3,826,289 | $46,705 |
| 2020 | $1,186,056 + $2,601,000 $3,787,056 | $47,180 |
| 2019 | $1,162,800 + $2,550,000 $3,712,800 | $45,326 |
| 2018 | $1,140,000 + $2,500,000 $3,640,000 | $45,211 |
| 2017 | $1,035,555 + $1,605,109 $2,640,664 | $33,134 |
| 2016 | $1,015,250 + $1,573,637 $2,588,887 | $32,322 |
| 2015 | $1,000,000 + $1,550,000 $2,550,000 | $31,887 |
| 2014 | $639,434 + $169,258 $808,692 | $11,372 |
| 2013 | $636,545 + $168,494 $805,039 | $11,368 |
| 2012 | $624,064 + $165,191 $789,255 | $11,519 |
| 2010 | $611,828 + $161,952 $773,780 | $11,347 |
| 2009 | $608,699 + $161,124 $769,823 | $10,946 |
| 2009 | $607,256 + $160,742 $767,998 | $10,946 |
| 2008 | $596,764 + $157,965 $754,729 | $10,530 |
| 2007 | $585,063 + $154,868 $739,931 | $10,159 |
$4,950,000
TheMLSCLAW
Listing removed 2023-11-17
$0
TheMLSCLAW
Relisted 2023-11-15
$4,950,000
TheMLSCLAW
Listing removed 2023-10-30
$0
TheMLSCLAW
Listed 2023-07-25
$4,950,000
TheMLSCLAW
Sold 2017-08-03
$3,640,000
Public Record
Listing removed 2017-07-29
$0
AppfolioUnits
Price Changed for rent 2017-04-18
$0
AppfolioUnits
Listed for rent 2017-04-06
$1,225
AppfolioUnits
Sold 2014-07-25
$2,550,000
Public Record
Sold 2000-06-09
$645,000
Public Record
Listing removed 2000-06-07
$695,000
ITECH
Listed 2000-03-06
$695,000
ITECH
Year Built: 1936
Common Walls: Attached
Levels: Multi Levels
Living Area Source: Vendor Enhanced
Property Age: 88
Levels or Stories: 3
Building Total Stories: 3
Year Built Source: Vendor Enhanced
Map directions Map directions Map directions Map directions
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.