Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

4

Building size

3,530 sqft

Lot size

6,499 sqft

Year built

1952

Stories

2

Garage spaces

4

Style

Mid Century Modern

Heating

Fireplace(s),Wall Furnace,Central

Cooling

Central Air,Wall/Window Unit(s)

Pool

None

View

None

Status

Active

Days on market

44

MLS #

245903101

About this property

A rare combination of architectural character, privacy, and investment potential in prime Westwood. Set on an up-sloping lot, this classic mid-century four-unit property features a unique staggered design, with each residence positioned on its own level, creating an uncommon sense of separation and privacy. The favorable unit mix includes two spacious one-bedroom residences, one single, and an expansive two-bedroom, two-bathroom "Owner's Unit" with private backyard. Tastefully remodeled with modern finishes, the Owner's Unit features an open-concept kitchen, recessed lighting, distinctive wraparound brick fireplace, and central HVAC. Throughout the property, large windows provide abundant natural light, original hardwood floors have been beautifully maintained, and each of the four units enjoys its own in-unit laundry. The other residences feature individual window/wall A/C units. Four enclosed garage spaces plus additional tandem parking provide excellent convenience, while a brand-new roof represents an important recent improvement. Fully occupied and situated in a quiet residential neighborhood just moments from UCLA and an extensive collection of nearby shops, restaurants, cafes, and amenities, the property benefits from exceptionally strong and stable rental demand. Current rents offer approximately 23% future upside, creating an attractive opportunity for both owner-users and investors. Stylish, spacious, private, and incredibly well located, 1581 Manning Avenue is a compelling Westwood multifamily offering with meaningful long-term upside. * Buyer to independently verify the feasibility of recovering possession of the "Owner's Unit" for owner occupancy. With 100% occupancy and ease of management, this asset is ideally suited for a 1031 Exchange or portfolio expansion.

Location

1581 Manning Avenue

Los Angeles, Los Angeles, CA, 90024