Residential Income – 742 S Westlake Ave, Los Angeles, CA 90057, USA -001-11-30T00:00:00-08:00
Manali Residence is a brand new, 2019 constructed, 37 Unit apartment building has been designed for executives and families working in and around K-Town and DTLA! Scheduled to open in early October 2019, it is centrally located in the Westlake District of th
742 S Westlake Ave, Los Angeles, CA 90057, USA
$15,000,000 USD
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Address742 South Westlake, Los Angeles
Price$15,000,000
Price Changed3.22% (-$500,000, 68 days ago)
Year Built2019
Bedrooms Total0
Living Area29,600 ft2
Lot Size (Sq.Ft.)14,984
Listing IDSR19232282
StatusActive
Parcel Number5142003025
Special ConditionsStandard
Days on Market145

Detailed Description: Manali Residence is a brand new, 2019 constructed, 37 Unit apartment building has been designed for executives and families working in and around K-Town and DTLA! Scheduled to open in early October 2019, it is centrally located in the Westlake District of the City of Los Angeles between K-Town and Downtown LA, at 742 South Westlake Avenue, Los Angeles, CA 90057. Manali Residence provides easy access to the Red and Purple Lines at 7th St. And Westlake Ave., Metro Buses on 7th Street and Westlake, as well as 8th St. And Westlake and Blue LA. The Home Depot, Starbucks and other cafes and bakeries, as well as famous Langer’s Deli on 7th and Alvarado are within close proximity of the building. K-Town to the west and Downtown LA on the east provide ample job opportunities as well as entertainment nearby. The Manali Residence features one street level parking area, accessible from the alley at the back of the building, and one level of underground parking from Westlake Avenue for a total of 55 automobiles and 41 bicycles. The Unit Mix consist of 10 (ten) Studios, 9 (nine) 1-Bedroom and 1-Bathroom units, 14 (fourteen) 2-Bed and 1.5-Bath units, and 4 (four) 3-bedrooms and 2.5-Bath units, distributed throughout four stories around a central courtyard. The building is naturally well illuminated and ventilated. It is aesthetically designed with drought resistant and low maintenance landscaping on all four sides, as well as the central courtyard and roof top lounge on the 5th floor.

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Address Information
Address742 South Westlake, Los Angeles
Street PrefixSouth
CityLos Angeles
Location (MLS Area)C42 – Downtown L.A.
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90057
CountryUS
Financial Information
Price Changed-3.2258%
Previous Price$15,500,000
Price per Square Foot$506.76
Price per Lot Square Foot$1,001.07
Tenant PaysElectricity, Gas, Water
Special ConditionsStandard
Total Expenses$310,386
Professional Management Expense$37,062
Operating Expense$310,386
Insurance Expense$8,880
Trash Expense$9,768
Operating Expense32.5%
Gross Income$926,544
Gross Scheduled Income$955,200
Net Operating Income$616,158
Vacancy Allowance$28,656
Tax Year2000
Tax Lot6
New Taxes Expense$187,500
Full Descriptions
Parcel Number5142003025
Detailed DescriptionManali Residence is a brand new, 2019 constructed, 37 Unit apartment building has been designed for executives and families working in and around K-Town and DTLA! Scheduled to open in early October 2019, it is centrally located in the Westlake District of the City of Los Angeles between K-Town and Downtown LA, at 742 South Westlake Avenue, Los Angeles, CA 90057. Manali Residence provides easy access to the Red and Purple Lines at 7th St. And Westlake Ave., Metro Buses on 7th Street and Westlake, as well as 8th St. And Westlake and Blue LA. The Home Depot, Starbucks and other cafes and bakeries, as well as famous Langer’s Deli on 7th and Alvarado are within close proximity of the building. K-Town to the west and Downtown LA on the east provide ample job opportunities as well as entertainment nearby. The Manali Residence features one street level parking area, accessible from the alley at the back of the building, and one level of underground parking from Westlake Avenue for a total of 55 automobiles and 41 bicycles. The Unit Mix consist of 10 (ten) Studios, 9 (nine) 1-Bedroom and 1-Bathroom units, 14 (fourteen) 2-Bed and 1.5-Bath units, and 4 (four) 3-bedrooms and 2.5-Bath units, distributed throughout four stories around a central courtyard. The building is naturally well illuminated and ventilated. It is aesthetically designed with drought resistant and low maintenance landscaping on all four sides, as well as the central courtyard and roof top lounge on the 5th floor.
Lot Features36-40 Units / Acre
Community FeaturesUrban
Water SourcePublic
Roof DescriptionFlat
Laundry FeaturesCommon Area
Heating DescriptionCentral
Cooling DescriptionCentral Air
Appliances DescriptionGas Range
Parking FeaturesAssigned
Sewer DescriptionPublic Sewer
Common Walls Description2
View DescriptionCity Lights, Landmark, Neighborhood, Panoramic, Valley
Pool FeaturesNone
Road Surface TypePaved
Road Frontage TypeCity Street
Property parameters
Year Built2019
Living Area (Sq.Ft.)29,600 ft2
Lot Size (Sq.Ft.)14,984
Lot Size (Acres)0.344
Lot Size SourceBuilder
Number of Buildings1
Number of Units Total37
Parking Spaces55
Garage Spaces55
LevelsThree Or More
Water SourcePublic
Units Total37
Year Built SourceBuilder
Vacancy Allowance Rate3%
Average 1 Bedroom Area630 ft2
Average 2 Bedroom Area915 ft2
Average 3 Bedroom Area1,387 ft2
Average Studio Area475 ft2
Number of Separate Electric Meters37
Number of Separate Gas Meters37
Number of Separate Water Meters37
Listed withJames Antonucci (Keller Williams Realty-Studio City)