7877 W Manchester AVE Playa Del Rey, CA 90293

PRICE REDUCED $50,000 BRING YOUR OFFERS AND LET'S MAKE A DEAL NOW... The first time on the market in 57 years! This well-maintained 5 unit Playa del Rey property at 7877 W. Manchester Avenue represents a special buying opportunity for astute investors looking to capitalize on all the growth and money pouring into Silicon Beach. The property has a fantastic unit mix with one 3 bedroom 2 bath unit; two 2 bedroom 1 bath units, and two 1 bedroom 1 bath units. The total rentable square footage is approx. 4,342 sq. ft., the property was built in 1959, and the lot size is 5,942 sq. ft. The current gross income is $7,203/month; $86,436/yr (assumes recently vacated 2+1 unit rented at $2,400/mth). Serious rent upside potential here, and the ability to raise rents to $10,800/mth; $129,600/yr at full market rates. The property is zoned LAR3 and so there's the ability to build 7 new units on this lot it appears, but all buyers should verify with the LADBS what can be built here. There is a huge barrier to entry in the Playa del Rey apartment market, and opportunities like this deal rarely arise.