The 32-unit Mansfield Terrace Apartments located at 1318 N Mansfield Ave in Hollywood. Located just west of Highland Ave between De Longpre Ave & Fountain Ave, this property features a desirable mix of 32 one-bedroom apartments, including 5 unique one-bedroom units with lofts on the third floor and 50 parking spaces, including 10 EV charging stations.Constructed in 1988, 1318 N Mansfield Ave benefits from not being subject to the Los Angeles Rent Stabilization Ordinance, providing greater allowable rental increases. Significant renovations have been carried out in 10 units, enhancing them with luxury features such as wide plank vinyl flooring, modern shaker cabinets, quartz countertops, polished chrome fixtures, new paint, and smoothed ceilings. Additionally, these units have been upgraded with new stainless-steel appliances and air conditioning units. Each apartment boasts its own balcony, along with a washer & dryer combo and individual water heater.The property has also received extensive exterior upgrades, including exterior paint, a new intercom and security camera system, and a renovated courtyard complete with new patio furniture, a fireplace, a leasing office, a BBQ area, and updated elevator equipment.This offering represents an exceptional opportunity to acquire a well-maintained property with no deferred maintenance and strong existing cash flow, demonstrated by a 4.40% CAP rate with an additional 16% rental upside achievable as units turn and the proven renovation plan is continued. Eligible units were served rental increases in February 2024. With a high Walk Score of 95, the location provides superb access to schools, employment centers, and transit options, facilitating easy commutes to various nearby neighborhoods such as Hancock Park, La Brea, Fairfax, West Hollywood, and Beverly Hills.Located in the heart of Hollywood, an area synonymous with entertainment, culture, and luxury living, Mansfield Terrace Apartments offers investors a unique chance to own a piece of one of Los Angeles' most iconic and vibrant neighborhoods.
Property Details
Property Features
Property Information:
Year Built: 1988
Stories: 3
Living Area: 20,590 SqFt
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (310) 909-5500
Listing Agent: Neema Ahadian
Interior Features
Bedroom and Bathroom Information:
Total Bedroom Count: 32
Lot Features
Lot Information:
Lot Size: 0.49 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
School Info
Assigned Schools Information:
Hollywood Senior High School, Public Magnet Grades 9-12
Math, Science, & Technology Magnet Academy at Roosevelt High School, Public Magnet Grades 9-12
Daniel Pearl Journalism & Communications Magnet, Public Magnet Grades 9-12
Hubert Howe Bancroft Middle School, Public Magnet Grades 6-8
Studio, Public District Grades 6-8
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Academy For Enriched Sciences, Public Magnet Grades 1-5
Point Fermin Elementary School, Public Magnet Grades KG-5
Other
Directions Information:
Directions: Located just west of Highland Ave between De Longpre Ave & Fountain Ave.
Price Information
Listing Price Info
Price Summary:
List Price: $12,150,000
Price Per SqFt: $590/SqFt
Tax Information:
Annual Amount: $150,141
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $11.1M more than the Median Sold Price and $38/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24363613
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (310) 909-5500
Listing Agent: Neema Ahadian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 4/27/2024, 1:20:20 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Feb 13, 2020
Feb 13, 2020Home Sold
$12,400,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$150,141
$12,538,064
2020
$126,904
$10,772,321
2019
$126,438
$10,561,100
2018
$123,651
$10,354,020
2017
$123,651
$10,151,000
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school0.80 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school18.57 miles
Public Magnet Grades 1-5
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school26.47 miles
Public Magnet Grades KG-5
Middle School
4
/10
Hubert Howe Bancroft Middle School
929 N Las Palmas Ave
Distance between this listing and this school0.46 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school5.96 miles
Public District Grades 6-8
High School
5
/10
Hollywood Senior High School
1521 N Highland Ave
Distance between this listing and this school0.29 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school8.34 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school11.39 miles
Public Magnet Grades 9-12
Assigned Schools
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school0.80 miles
Public Magnet Grades KG-6
9
/10
Academy For Enriched Sciences
6170 Lockhurst Dr
Distance between this listing and this school18.57 miles
Public Magnet Grades 1-5
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school26.47 miles
Public Magnet Grades KG-5
Assigned Schools
4
/10
Hubert Howe Bancroft Middle School
929 N Las Palmas Ave
Distance between this listing and this school0.46 miles
Public Magnet Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school5.96 miles
Public District Grades 6-8
Nearby Schools
4
/10
Joseph Le Conte Middle School
1316 N Bronson Ave
Distance between this listing and this school1.33 miles
Public Magnet Grades 6-8
Assigned Schools
5
/10
Hollywood Senior High School
1521 N Highland Ave
Distance between this listing and this school0.29 miles
Public Magnet Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school8.34 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school11.39 miles
The neighbors living near this home have an average income of $50,478. Most Los Angeles, CA residents have annual incomes between $35k-100k. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1318 N Mansfield Ave
What is the listing price of this property?
The listing price of 1318 N Mansfield Ave property is $12,150,000.
What type of property is this?
The property 1318 N Mansfield Ave is a house located in Los Angeles, California, 90028.
Is this property for sale now?
Active Listing: 1318 N Mansfield Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 1318 N Mansfield Ave are: Melrose Avenue Elementary School: GreatSchools Rating 8/10Academy For Enriched Sciences: GreatSchools Rating 9/10Point Fermin Elementary School: GreatSchools Rating 6/10Hubert Howe Bancroft Middle School: GreatSchools Rating 4/10Studio: GreatSchools Rating 4/10Hollywood Senior High School: GreatSchools Rating 5/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 8/10
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $150,141 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on February 13, 2020 for $12,400,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 1318 N Mansfield Ave has 32 bedrooms and 32 bathrooms.
What is the square footage of this property?
The property 1318 N Mansfield Ave is 20,590 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 1318 N Mansfield Ave is 1988.
Interested in 1318 N Mansfield Ave? Let's connect.
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This home is located at 1318 N Mansfield Ave in Los Angeles, CA and zip code 90028 in the Central LA neighborhood. This 20,590 square foot home, which was built in 1988, sits on a 0.49 acre lot. Features: 32 bedrooms, 32 bathrooms. It has been listed on Rocket Homes since March 01, 2024 and is currently priced at $12,150,000.
While more than 628 listings in Los Angeles, CA in March 2024 were sold above asking price, there were more than 196 listings sold at asking price, and more than 579 were sold below. The number of homes for sale in Los Angeles, CA increased by 10.8% between February 2024 and March 2024. In March 2024, listings were on the market for 34 days. During the same period, the median list price in this real estate market was $975,970.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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