Front-and-Back Duplex with
New
For Sale
$925,000
16023 S Manhattan Place, Gardena, CA 90247
Two separate residences include a bonus room, dedicated laundry, and attached direct-access parking.
Property Size2,636 SF
Lot Size0.20 Acres
Days on Market2
Property Features for 16023 S Manhattan Place
General Information
Standard status
Active
Size
2,636 SF
Total Parking Spaces
2
Lot size
0.20 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Amenities
separate laundry
Building Details
Building Size
2,636 SF
Year Built
1945
Listing Agency:
Keller Williams Realty
Listed By:
Aylwin Agena · License #01473411
(310) 375-3511
Source:
Truthrealty
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 6 at 7:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1945, this front-and-back duplex offers two distinct residential units on an 8,803-square-foot lot. The front residence includes 3 bedrooms and 1 bathroom, while the rear residence provides 3 bedrooms, 2 bathrooms, and an additional bonus room. The rear unit also has separate laundry and an attached, direct-access 2-car garage.
The property is located at 16023 S Manhattan Place in Gardena, near commuter routes and commercial centers. Its two-unit configuration, varied layouts, and substantial lot provide a flexible residential income property with separate living spaces and useful ancillary features.
The property is located at 16023 S Manhattan Place in Gardena, near commuter routes and commercial centers. Its two-unit configuration, varied layouts, and substantial lot provide a flexible residential income property with separate living spaces and useful ancillary features.
Key Highlights
- Front‑and‑back duplex configuration with two distinct living spaces
- 8,803‑square‑foot lot
- Front unit includes 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,034
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$920,680
$920.7K
Cap Rate 7%
$657,629
$657.6K
Cap Rate 9%
$511,489
$511.5K
Market Conditions
NOI Build-Up for 2,636 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$71.2K $27.00/SF
− Vacancy
−$5.4K −$2.05/SF
EGI
$65.8K $24.95/SF
− OpEx
−$19.7K −$7.48/SF
NOI
$46.0K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$920,680
Cap Rate 7%
$657,629
Cap Rate 9%
$511,489
Alternative Uses
Best Use
Multifamily LT 5
$657.6K
$575.4K – $767.2K
NOI $46,034 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$605.9K
$530.2K – $706.9K
NOI $42,415 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.41M
$1.23M – $1.65M
NOI $98,791 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,651
Businesses Nearby
Explore this area
Business Placement
Demographics for 90247, CA
48,543
Population
17,076
Households
2.8
Avg Household Size
39
Median Age
27%
College-Educated
78%
High-School Grad
3.8 sq mi
ZIP Area
12,774
Density / Sq Mi
$73,851
Median Household Income
$37,000
Median Earnings
$1,751
Median Rent
$640,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences include a bonus room, dedicated laundry, and attached direct-access parking.
Where is this duplex located?
The property is located at 16023 S Manhattan Place Gardena, CA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Front‑and‑back duplex configuration with two distinct living spaces; 8,803‑square‑foot lot; Front unit includes 3 bedrooms and 1 bathroom
