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    Silver Lake Affordable Housing Development Title is generated by Realmo AI

    1108 Manzanita St, Los Angeles, CA 90029

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    Claim this Listing
    For Sale
    $2,350,000

    LAND - Los Angeles, CA

    Lot size:
    0.18 Acres
    Added:
    Jan 20, 2026
    Days on Market:
    111
    Last Refresh:
    May 11 at 5:06 am

    Property Features for 1108 Manzanita St

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RD2-1VL
    Standard status
    Active
    APN
    5429-010-014
    Lot size
    0.18 Acres

    We can help!

    Listing Contact
    Dario Svidler

    Listing agent Dario Svidler License #01884474

    Listing office Keller Williams Beverly Hills 439 N Canon Dr. Suite 300, Beverly HIlls, CA

    Listing date Jan 20, 2026

    MLS# 26640823 Listing URL

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Ready‑to‑Issue (RTI) status with all entitlements and approvals secured.
    • Located in a highly desirable Silver Lake location near Sunset Junction.
    • 100% Affordable Housing Development Opportunity with unlimited density allowed under AB 1763 incentives.
    • Design eliminates the need for parking, reducing construction costs.
    • Prime Transit‑Priority Zone location with a Walk Score of 95.
    • 54‑unit development (28 studios, 26 one‑bedrooms) designed to maximize affordability.

    Overview

    This property presents an opportunity for a 54-unit affordable housing development in a desirable Silver Lake location near Sunset Junction. The project is situated on a 7,688 square foot lot and is designed as a five-story Type IIIB building, utilizing AB 1763 incentives to allow unlimited density for affordable housing. The proposed development includes a total floor area of 25,750 square feet, featuring 28 studio apartments and 26 one-bedroom units, all designated for affordable housing. The unit breakdown includes 2 very low-income units, 40 low-income units, 11 moderate-income units, and 1 market-rate manager's unit. The design eliminates the need for parking. Residential units range from 280 to 460 square feet. Located in Silver Lake, the property is near Sunset Junction, with access to cafes, shops, and dining. Its location in a Transit-Priority Zone ensures connectivity, with bus lines and metro access nearby. The area has a Walk Score of 95. The project will be delivered in Ready-to-Issue status and will be delivered vacant at the close of escrow.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.280522
    Latitude
    34.093383

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    FAQs

    What type of property is this?
    Commercial land - Ready-to-Issue 54-unit affordable housing development opportunity in prime Silver Lake.
    Where is this commercial land located?
    The property is located at 1108 Manzanita St Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: Ready‑to‑Issue (RTI) status with all entitlements and approvals secured.; Located in a highly desirable Silver Lake location near Sunset Junction.; 100% Affordable Housing Development Opportunity with unlimited density allowed under AB 1763 incentives.
    (424) 600-7633
    We can help!
    Listing Contact
    Dario Svidler
    Real Estate License ID: 01884474
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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