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42 UNIT APARTMENT BUILDING(S) – FOR SALE 410 & 414 S MANHATTAN PLACE, LOS ANGELES, CA 90020
MARK HONGBRE #: 01067529
Office: (213) 251-9000
Mobile (213) 700-6780
[email protected] www.korusre.com
STELLA SHINBRE #: 01921870
Office: (213) 251-9000
Mobile (213) 598-0026
CANDACE BROWNBRE #: 02063446
Office: (213) 251-9000
Mobile (818)288-2131
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation
about it. It is your responsibility to independently confirm its accuracy and completeness.
410 -414 S MANHATTAN PL LOS ANGELES, CA 90020
450 S St ANDREWS ST 66 UNITS
430 S St ANDREWS ST 66 UNITS
433 S MANHATTAN PL100 UNITS
409 S MANHATTAN PL29 UNITS
410 -414 S MANHATTAN PL LOS ANGELES, CA 90020
450 S St ANDREWS ST 66 UNITS
430 S St ANDREWS ST 66 UNITS
433 S MANHATTAN PL100 UNITS
333 S ST ANDREWS PL 89 UNITS
409 S MANHATTAN PL29 UNITS
4414 W 3rd ST 45 UNITS
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation
about it. It is your responsibility to independently confirm its accuracy and completeness.
301 S ST ANDREWS PL69 UNITS
COMBINED PROPERTY INFORMATION
Address: 410 S Manhattan Place
414 S Manhattan Place
Los Angeles, CA 90020
Sale Price: $12,600,000
Price per unit: $300,000
APNs: 5503-015-018 & -019
Building Size: 410 S Manhattan - 16,002 sq. ft.
414 S Manhattan – 16,002 sq. ft.
Combined – 32,004 sq. ft.
Land Size: 410 S Manhattan – 8,640 sq. ft.
414 S Manhattan – 8,640 sq. ft.
Combined – 17,280 sq. ft.
Built: 1963
Units: 12 – 2 Bd/2 Bths
24 – 1 Bd/1 Bth
6 – Studio
Combined = 42 Units
Zoning: R4-1
Parking: 22 + 22 = 44 Spaces (Access from Alley)
TOC: Tier 3
INVESTMENT HIGHLIGHTS
Central Koreatown location
Walking distance to Wilshire Blvd.
Convenient access to Retail and Public Transit.
Rents are significantly below market.
Buyer may obtain new financing at current rates and terms
Walk Score: Walker’s Paradise (93)
Transit Score: Excellent Transit (76)
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your
responsibility to independently confirm its accuracy and completeness.
ANNUAL GROSS INCOME: $573,396
ANNUAL EXPENSES (35%): $200,689
ANNUAL NET OPERATING INCOME: $372,707
CAP RATE: 3% (4% PROFORMA)
GRM: 22x (PROPFORMA 16x)
INVESTMENT SUMMARY
APN Zoning 5503-015-018 & -019 R4-1
PROPERTY INFORMATION
Address: 410 S Manhattan PlaceLos Angeles, CA 90020
Sale Price: $12,600,000 (Combined)
APN: 5503-015-019
Building Size: 410 S Manhattan - 16,002 sq. ft.
Land Size: 410 S Manhattan – 8,640 sq. ft.
Built: 1963
Units: 6 – 2 Bd/2 Bths
12 – 1 Bd/1 Bth
3 - Studio
Zoning: R4-1
Parking: 22 Spaces (Access from Alley)
TOC: Tier 3
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your
responsibility to independently confirm its accuracy and completeness.
Address: 414 S Manhattan PlaceLos Angeles, CA 90020
Sale Price: $12,600,000 (Combined)
APN: 5503-015-018
Building Size: 414 S Manhattan - 16,002 sq. ft.
Land Size: 414 S Manhattan – 8,640 sq. ft.
Built: 1963
Units: 6 – 2 Bd/2 Bths
12 – 1 Bd/1 Bth
3 - Studio
Zoning: R4-1
Parking: 22 Spaces (Access from Alley)
TOC: Tier 3
RENT ROLL
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your
responsibility to independently confirm its accuracy and completeness.
Address Tenant Name Unit Type Rent Market Rent Move-in Date
101 Roberto Lim 1 Bd + 1 Ba $874 $1,600 9/1/00
102 Aidee Molina 2 Bd + 1 Ba $1,700 $2,000 2/1/18
103 Manuel Martinez 1 Bd + 1 Ba $882 $1,600 2/1/02
104 Ena Campos Studio $661 $680 10/1/13
105 Sue Garland 1 Bd + 1 Ba $866 $1,600
106 Joel A Beltran / Marties Cabog 2 Bd + 1 Ba $1,456 $2,000 7/1/17
107 Gwendolyn Fenderson 1 Bd + 1 Ba $828 $1,600 8/5/98
201 Ricardo Lopez 1 Bd + 1 Ba $1,500 $1,600 4/14/18
202 Fidel Davila 2 Bd + 1 Ba $1,138 $2,000 7/1/97
203 Agustin Hinola 1 Bd + 1 Ba $866 $1,600 12/1/09
204 Cecil Neal Studio $548 $680 12/1/96
205 Eric Mateo 1 Bd + 1 Ba $1,167 $1,600 2/1/13
206 Christian A Vanderhooft 2 Bd + 1 Ba $1,976 $2,000 1/1/17
207 Rodrick Bernard Mitchell 1 Bd + 1 Ba $1,580 $1,600 4/1/17
301 James Lauer 1 Bd + 1 Ba $1,280 $1,600 2/1/13
302 VACANT 2 Bd + 1 Ba $2,000 $2,000
303 VACANT 1 Bd + 1 Ba $1,600 $1,600
304 Narangerel Turkmunkh Studio $676 $680 5/1/16
305 Bakhatian Kenjekhon 1 Bd + 1 Ba $1,106 $1,600 6/18/12
306 Babi Deen 2 Bd + 1 Ba $1,184 $2,000 10/1/95
307 Antonio Vargas 1 Bd + 1 Ba $1,252 $1,600 7/1/13
TOTAL $25,140 $31,640
410 S MANHATTAN AVE, LOS ANGELES, CA 90020
RENT ROLL
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your
responsibility to independently confirm its accuracy and completeness.
Address Tenant Name Unit Type Rent Market Rent Move-in Date
108 Eveyln Arteaga 1 Bd + 1 Ba $1,650 $1,600 9/21/18
109 Carol Mula 2 Bd + 1 Ba $1,426 $2,000 10/1/04
110 Marcelle Gossette 1 Bd + 1 Ba $1,140 $1,600 7/3/13
111 Rolex Salacup Studio $575 $680 10/1/00
112 Fe Stephens 1 Bd + 1 Ba $1,135 $1,600 6/1/15
114 Gene Layco 2 Bd + 1 Ba $1,138 $2,000 3/15/99
115 VACANT 1 Bd + 1 Ba $1,600 $1,600
208 Agustin Gabutan 1 Bd + 1 Ba $1,066 $1,600 10/4/04
209 Wilfredo Rey 2 Bd + 1 Ba $1,190 $2,000 5/1/05
210 Ivon Kalalang 1 Bd + 1 Ba $794 $1,600 11/1/15
211 William W Davidson Studio $1,100 $680 9/16/18
212 Anwar Khan 1 Bd + 1 Ba $1,168 $1,600 4/1/14
214 Herminia Bautista 2 Bd + 1 Ba $1,141 $2,000 12/1/10
215 Adam Duran= Manager 1 Bd + 1 Ba $1,600 7/1/16
308 VACANT 1 Bd + 1 Ba $1,600 $1,600
309 Gloria Lu 2 Bd + 1 Ba $1,176 $2,000 10/1/98
310 Eva Minda 1 Bd + 1 Ba $801 $1,600 2/1/00
311 Tsogoo Osorjam Studio $637 $680 6/16/15
312 Gerald Vasseur 1 Bd + 1 Ba $813 $1,600 9/1/98
314 Marijoy Zamarro 2 Bd + 1 Ba $1,563 $2,000 4/1/10
315 Teresita Surret 1 Bd + 1 Ba $930 $1,600 7/1/03
TOTAL $22,643 $31,640
414 S MANHATTAN AVE, LOS ANGELES, CA 90020
APARTMENT COMPARABLE SALES
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your
responsibility to independently confirm its accuracy and completeness.
# Address Sold Date Sold Price Price/Unit. CAP Rate GRM Building Size
2 3410 W 7th St, Los Angeles, CA 90005 10/17/2018 $3,558,000 $323,454 - - 7,828 sq. ft.
3 4651 Council St, Los Angeles, CA 90004 1/31/2018 $1,832,000 $261,714 - - 10,138 sq. ft.
4 532 S Gramercy Pl, Los Angeles, CA 90020 6/6/2018 $5,600,000 $233,333 3% 16.23 18,174 sq. ft.
5 514 S Gramercy Pl, Los Angeles, CA 90020 6/6/2018 $6,100,000 $254,167 4% 14.86 19,699 sq. ft.
6 321 S Harvard Blvd, Los Angeles, CA 90020 5/17/2018 $2,900,000 $290,000 3% 18.00 8,576 sq. ft.
7 175 S Oxford Ave, Los Angeles, CA 90020 4/25/2018 $1,950,000 $278,571 - - 6,709 sq. ft.
8 245 – 251 N Ridgewood Pl, Los Angeles, CA 90020 4/24/2018 $9,125,000 $304,167 3% 29,514 sq. ft.
9 702 S St Andrews Pl, Los Angeles, CA 90005 1/28/2019 $4,950,000 $309,375 5% 13.03 10,082 sq. ft.
410 & 414 S Manhattan Ave, Los Angeles, CA 90020 $12,600,000 $300,000 3% 22 32,004 sq. ft.
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation
about it. It is your responsibility to independently confirm its accuracy and completeness.
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation
about it. It is your responsibility to independently confirm its accuracy and completeness.
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2018 TOTAL POPULATIONWITHIN 3-MILE RADIUS
663,990
cv2018 HOUSEHOLD INCOME
WITHIN 3-MILE RADIUS
$39,456
cv
2018 HOUSEHOLDSWITHIN 3-MILE RADIUS
252,478PARKING LOT
ALLEY
