204 N Manhattan Place
Los Angeles, CA 90004
12628 sqft | 25 beds | 0.33 acres | #25482069
Description
Well-maintained 17-unit building cash flowing at an amazing Current Cap Rate of 5.6% and 12.5 GRM from day 1 with an incredible 32% upside to 8% Cap Rate and 9.5 GRM on proforma in prime Hancock Park/Larchmont Village area. Excellent and large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 9 (1bed/1bath) units including 3 brand-new (1bed/1bath) ADUs. Additionally, 4 of the units have been renovated and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms, stainless steel appliances, and major exterior capital improvements. Amenities include a renovated pool and courtyard with seating areas, on-site laundry facilities, secure entry, and covered parking spaces for convenience. Individually metered for gas & electricity with soft-story retrofit already completed. Large 14,364 SF R3 TOC Tier 3 corner lot for future development potential. Located in the heart of Hancock Park just minutes away from Larchmont Village, Koreatown, Hollywood, and Melrose as well as many hip neighborhood attractions, restaurants, bars, and shops such as Wilshire Country Club, Paramount Studios, H Mart, Levain Bakery, Salt & Straw, and Great White, popping up all around the area.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- InteriorCeilingFans
- CountyLos Angeles
- Original List Price$5,250,000
- MLS #25482069
- MLS #25482069
- Cost5250000
- Acres0.3287
- Square Feet12628
- Year Built1961
- Bedrooms25
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Armin Soleimani (#CLW-C120232)
Listing Office: Global Platinum Properties, Inc. (#CLW-X82397)
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