538 S MANHATTAN PL.
Los Angeles, CA 90020 · APN 5503-018-020
UNITS
67
BUILDING SF
38,542
SF / UNIT
575
YEAR BUILT
1986
BEDROOMS
67
BATHROOMS
67
USE · CODE 0500
5+ UNITS
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PROP 13 ASSESSED VALUES, USUALLY WELL BELOW MARKET ON LONG-HELD BUILDINGS.
PRICE ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE, NOT A VERIFIED CLOSING PRICE.
LIKELY UNDER AB 1482 STATE CAP
Built 1986, inside the City of Los Angeles. Construction after 1 October 1978 is outside the RSO, so the statewide cap applies instead: 5% plus regional CPI, never more than 10% in a year.
Recent sales nearby.
PRICES ESTIMATED FROM ASSESSOR REASSESSMENT AT SALE (ASSESSED VALUE DEFLATED 2%/YR), NOT VERIFIED CLOSING PRICES.
Buildings like this one.
ON S MANHATTAN PL · ZIP 90020
SIMILAR SIZE AND ERA IN 90020
This building sits in Koreatown.
RECORDED SALES, MEDIAN $/UNIT AND $/SF, RENT-CONTROL COVERAGE →
The short answers.
Is 538 S Manhattan Pl rent controlled?
Built 1986, inside the City of Los Angeles. Construction after 1 October 1978 is outside the RSO, so the statewide cap applies instead: 5% plus regional CPI, never more than 10% in a year. This is an inference from public assessor records, not a determination. Confirm the certificate of occupancy date with the LA Housing Department or ZIMAS before you rely on it for pricing or notices.
How many units does 538 S Manhattan Pl have?
County records list 67 units at 538 S Manhattan Pl, classified as 5+ units across 38,542 square feet of building area, averaging about 575 square feet per unit. Unit counts on the roll can lag permitted conversions and unpermitted additions in both directions.
When was 538 S Manhattan Pl built?
The assessor roll gives a build year of 1986, which is after the 1 October 1978 RSO cutoff. The ordinance turns on the certificate of occupancy rather than the roll's build year, so a building finished either side of that date is worth confirming with LAHD. Age drives more than character here. It sets rent-cap exposure, seismic retrofit obligations, and what a lender will underwrite.
When did 538 S Manhattan Pl last sell, and for how much?
The last recorded transfer was March 2023, at an estimated $17,660,000, about $263,582 per unit. That price is estimated from the Proposition 13 reassessment recorded at sale, not a verified closing price, so treat it as a close approximation rather than a confirmed figure.
What is 538 S Manhattan Pl assessed at, and is that what it is worth?
The current assessed value is $18,373,464 ($7,282,800 land, $11,090,664 improvements). Assessed value is not market value. Under Proposition 13 it resets only on a change of ownership and then climbs about 2% a year, so a long-held building is often assessed far below what it would trade for.
What is the Koreatown apartment market doing?
538 S Manhattan Pl sits in Koreatown, in Los Angeles. Recorded sale counts, median price per unit, median price per square foot, and the share of rent-control-era stock for the submarket are published and updated as the county roll refreshes. See the Koreatown market page for the current figures rather than a number quoted here.
How do I find out what 538 S Manhattan Pl would sell for today?
Public records give you the frame, units, size, age, assessed value, and when it last traded, but pricing needs in-place rents, expenses, and the condition of the units, none of which appear in county data. A broker valuation puts closed comps and a rent survey against the actual rent roll. Shaya Lowenstein does that free for LA multifamily owners, typically within 48 hours, with no obligation to list.
Leave an email and I'll come back with what it is worth and whether the owner is likely to trade. It does not have to be for sale, and it does not have to be my listing.
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