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Fantastic unit mix in prime PDR 8346 Manitoba St 11 Unit Apartment Building $3,600,000 ($327,273/Unit) 5.48% Cap Rate Playa Del Rey, CA 90293
INVESTMENT HIGHLIGHTS
- Amazing unit mix in prime Playa Del Rey
- Long-term family ownership
- Professionally managed and well-maintained
- Architecturally striking
- Large, bright units
- Significant remaining upside
EXECUTIVE SUMMARY
***May be purchased with 7736 Paseo Del Rey***
Rob Renshaw of RE/MAX Commercial & Investment Realty and Patricia Hamada of Beach City Brokers are pleased to present a unique multifamily offering on LA's Westside. Located at 8346 Manitoba St in Playa Del Rey, CA, this well-maintained 11-unit apartment building offers expansive 3, 2, 1, and Executive Studio units that are flooded with natural light, creating an inviting and open living space. Many of the units feature large outdoor patio areas, perfect for relaxing or entertaining.
The property is equipped with amenities including assigned parking with large storage areas over each space, lush landscaping, and on-site laundry facilities for the convenience of residents. Just a short walk from the beach and the vibrant Playa Del Rey village, this location provides easy access to local shops, restaurants, and entertainment.
Playa Del Rey is a peaceful coastal neighborhood known for its laid-back charm, beautiful beaches, and breathtaking views, offering a perfect balance of tranquility and convenience in one of Los Angeles’ most desirable beach communities.
Rob Renshaw of RE/MAX Commercial & Investment Realty and Patricia Hamada of Beach City Brokers are pleased to present a unique multifamily offering on LA's Westside. Located at 8346 Manitoba St in Playa Del Rey, CA, this well-maintained 11-unit apartment building offers expansive 3, 2, 1, and Executive Studio units that are flooded with natural light, creating an inviting and open living space. Many of the units feature large outdoor patio areas, perfect for relaxing or entertaining.
The property is equipped with amenities including assigned parking with large storage areas over each space, lush landscaping, and on-site laundry facilities for the convenience of residents. Just a short walk from the beach and the vibrant Playa Del Rey village, this location provides easy access to local shops, restaurants, and entertainment.
Playa Del Rey is a peaceful coastal neighborhood known for its laid-back charm, beautiful beaches, and breathtaking views, offering a perfect balance of tranquility and convenience in one of Los Angeles’ most desirable beach communities.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$293,874
|
$26.46
|
| Other Income |
$3,600
|
$0.32
|
| Vacancy Loss |
$8,816
|
$0.79
|
| Effective Gross Income |
$288,658
|
$25.99
|
| Taxes |
$43,178
|
$3.89
|
| Operating Expenses |
$48,314
|
$4.35
|
| Total Expenses |
$91,492
|
$8.24
|
| Net Operating Income |
$197,166
|
$17.75
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $293,874 |
| Annual Per SF | $26.46 |
| Other Income | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $0.32 |
| Vacancy Loss | |
|---|---|
| Annual | $8,816 |
| Annual Per SF | $0.79 |
| Effective Gross Income | |
|---|---|
| Annual | $288,658 |
| Annual Per SF | $25.99 |
| Taxes | |
|---|---|
| Annual | $43,178 |
| Annual Per SF | $3.89 |
| Operating Expenses | |
|---|---|
| Annual | $48,314 |
| Annual Per SF | $4.35 |
| Total Expenses | |
|---|---|
| Annual | $91,492 |
| Annual Per SF | $8.24 |
| Net Operating Income | |
|---|---|
| Annual | $197,166 |
| Annual Per SF | $17.75 |
PROPERTY FACTS
| Price | $3,600,000 | Property Subtype | Apartment |
| Price Per Unit | $327,273 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.48% | Lot Size | 0.22 AC |
| Gross Rent Multiplier | 12.25 | Building Size | 11,105 SF |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Zoning | R3 | ||
| Price | $3,600,000 |
| Price Per Unit | $327,273 |
| Sale Type | Investment |
| Cap Rate | 5.48% |
| Gross Rent Multiplier | 12.25 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 11,105 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 2 | - | 1,300 |
| 2+1.5 | 4 | - | 1,000 |
| 1+1 | 1 | - | 800 |
| Studios | 4 | - | 550 |
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PROPERTY TAXES
| Parcel Number | 4118-014-004 | Total Assessment | $1,912,367 |
| Land Assessment | $1,011,073 | Annual Taxes | $43,178 ($3.89/SF) |
| Improvements Assessment | $901,294 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
4118-014-004
Land Assessment
$1,011,073
Improvements Assessment
$901,294
Total Assessment
$1,912,367
Annual Taxes
$43,178 ($3.89/SF)
Tax Year
2025
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Fantastic unit mix in prime PDR | 8346 Manitoba St
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