7849 W Manchester Ave, Playa Del Rey, CA 90293

Property Description

Rare opportunity to acquire an income generating, five-unit apartment building in the heart of Playa del Rey. With its proximity to the beach, Loyola Marymount University, LAX and Silicon Beach, the Playa del Rey beach community demands premium rents. Pride of ownership care has been given to the building, two units were remodeled in 2021 and 2022, with new flooring, kitchen countertops, bathroom fixtures and fresh paint. The other three units were updated within the last 4-6 years. The units consist of three 1 bed/ 1 bath units, one 3 bed/ 2 bath unit and one 2 bed/1 bath unit. There are five parking spaces, located in the front driveway and along the side of the building. The garages are currently being used for storage by tenants, who pay an additional monthly storage fee. There is an on premise laundry room with coin operated machines. New wall heaters have been replaced in three of the units in the last two years and there have been plumbing updates with each renovation. Owners have completed the required soft-story retrofitting. This incredible investment opportunity is a stone's throw from Playa Vista, LMU, Otis, El Segundo and Marina del Rey. ** Income data is based on current rents and expenses.