627 Manchester Ave., Los Angeles, CA 90001
INVESTMENT OVERVIEW
This 12,000.80 SF CC2-1-CPIO zoned lot will be delivered with Ready-to-Issue (RTI) permits for a smartly designed multi-family development totaling 75 residential units across a compact and efficient building footprint. The approved plans consist of 5 studio and 70 one-bedroom units, ideal for renters seeking affordability and proximity to major transit and employment centers.
Located just south of Downtown Los Angeles in the Vermont Square neighborhood, this Tier 2 Transit Oriented Community (TOC) site benefits from the evolving South LA development landscape. The area is experiencing increased investor interest and public investment, with infrastructure upgrades, improved transit access, and revitalization projects steadily reshaping the local housing market.
Residents will enjoy quick access to major arteries such as the 110 and 10 Freeways, along with nearby Metro Blue/Expo Lines and multiple bus routes.
The site is in close proximity to USC, Exposition Park, BMO Stadium, and major commercial corridor including Martin Luther King Jr. Blvd. and Broadway.
With its strong WalkScore, accessible public transit, and eligibility for Opportunity Zone tax incentives, this project represents a compelling opportunity to deliver high-demand housing while benefiting from immediate permit readiness. The efficient unit mix aligns well with Los Angeles’ housing needs and provides investors with the ability to execute quickly in a market constrained by long entitlement timelines.
South LA continues to emerge as a destination for multifamily development, driven by increasing population, housing demand, and supportive land use policies. This RTI-approved offering positions developers and investors to capitalize on a growing submarket with high absorption and low vacancy rates—making 4082 Main St. a rare and strategic Opportunity.
627 Manchester Ave.
Project Overview
| Project Information | |
|---|---|
| Gross Building Area | 50,875 SF |
| Build-able Units | 75 Unit 70 (1-Bedroom) | 5 (STUDIOS) |
| Stories | 6 |
| Unit Size | 340 - 606 |
| Net Rentable | 46,089 SF |
| Lot Size | 12,000.8 SF |
| Legal Description | |
| Site Address | 627 Manchester Ave., Los Angeles, CA 90001 |
| Zoning | C2-1-CPIO | Tier 2 |
| APN | 6029032007 |
| Existing Condition: | Office Building |
627 Manchester Ave.
Price Analysis
Gross building area
50,875 SF
Build-able Units
75
STORIES
6 FLOORS
LOT SIZE
12,000 SF
NET RENTABLE AREA
46,089 SF
| COST SUMMARY | |
|---|---|
| Acquisition Costs: | $ 1,750,000.00 |
| Operating Expenses at 5% of Acquisition | $ 87,500.00 |
| Construction Costs: | $ 11,000,000.00 |
| Total Development Costs | $ 12,837,500.00 |
| Plan #1 : DISPOSITION | ||
|---|---|---|
| Projected Property Value: | $ 25,711,310.77 | |
| Disposition Cap Rate: | 6.50% | |
| Sales Proceeds at Disposition: | ||
| Projected Sale Value: | $ 25,711,310.77 | |
| Broker Commission: at 6.0% of Sale Price | $ 1,542,678.65 | |
| Closing Cost: at 0.5% of Sale Price | $ 128,556.55 | |
| Net Sale Proceed | $ 24,040,075.57 | |
| less: Project Cost | $ 12,837,500.00 | |
| Net Profit | $ 11,202,575.57 | |
| ROI | 87.26% | |
| PLAN #2: HOLD | |
|---|---|
| OPERATING PERFORMANCE | |
| Scheduled Lease Revenue | $ 2,208,960.00 |
| less: Manager Unit | $ 29,664.00 |
| less: Vacancies & Bad Debt at 3.00 % | $ 66,268.80 |
| less: Operating Expenses | $ 441,792.00 |
| Total | $ 537,724.80 |
| Residential Cash Flow | $ 1,671,235.20 |
| Net Operating Income | $ 1,671,235.20 |
| Cap Rate on Total Cost | 13% |
627 Manchester Ave.
Project Plans
Manchester Square
Neighborhood
- It’s situated in Los Angeles County.
- Residents benefit from convenient access to freeways and the airport.
- The neighborhood has a geometric layout with streets numbered 73rd to 85th, making navigation straightforward, particularly to the central South Western Avenue corridor.
- Notable entertainment venues like SoFi Stadium, The Kia Forum, and Hollywood Park Casino are located within a few miles of Manchester Square.
- There’s also a new luxury IMAX Cinema with indoor/outdoor dining nearby.
is easily accessible via the Expo line train.
- Manchester Square has a population of 12,807, according to Niche.
- The neighborhood has a diverse population.
- According to the 2000 U.S. census, approximately 11,594 people lived in Manchester Square, with an average population density similar to the rest of the city.
- The median age was 34 in 2000.
- At that time, Black residents made up 78.6% of the population, followed by Latinos at 19.2%, white people at 1.7%, Asian at 0.3%, and other races at 0.3%.
- A smaller percentage of residents (13.2%) were born abroad, with Mexico and Guatemala being the most common places of birth.
- More recent data indicates that residents most commonly identify their ethnicity as Mexican (21.7%), followed by Sub-Saharan African (14.8%), African (10.4%), and Irish (1.2%).
- Approximately 12.8% of residents were born in another country.
- Manchester Square is home to 50,925 residents, with a median age of 38, according to Point2Homes.
- Manchester Square features a mix of single-family homes and apartment buildings.
- Most residents rent their homes.
- The area has seen new multi-family projects as part of its modernization.
- Homes in Manchester Square tend to be more affordable compared to other areas.
- The median sale price for homes in Manchester Square over the last 12 months was $755,000.
- Manchester Square offers a dense suburban atmosphere.
- It boasts a strong sense of community, with local events and festivals held throughout the year.
- Despite its urban setting, it maintains a small-town feel.
- Residents are described as generally liberal.
- The neighborhood is considered one of the most walkable in America.
- The public schools in Manchester Square are considered above average.
- One of the elementary schools in the area is Manchester Avenue Elementary.
- Dining: South Western Avenue offers various casual dining options, including M’Dears Bakery and Bistro, known for its soul food, and D’s Original Take Out Grill, a popular barbecue spot.
- Shopping: Grocery shopping is available at Ralphs on West Manchester Avenue. The Slauson Super Mall, an indoor swap meet, is located 2 miles north of the neighborhood.
- Entertainment and Recreation: Nearby attractions include the Hollywood Park development, home to SoFi Stadium and the Hollywood Park Casino. The Kia Forum and Cinepolis Luxury Cinemas IMAX are also close by. Lake Park features a lake and waterfalls, American Airlines Plaza is a sprawling outdoor space, and the YouTube Theater is an intimate indoor venue that hosts concerts and other events.
- Transportation: The neighborhood is near the 110, 105, and 405 freeways. The LA electric train system has stops in the area, connecting residents to the LA Memorial Coliseum and Union Station. Public transportation access also includes the Avalon Station
on the Green Line.
