204 N Manhattan Place
Los Angeles, CA 90004
Active for $4,600,000
Beds: 25 Baths: 23 Structure Size: 12,628 sqft Lot Size: 14,319 sqft
| MLS | 24391961 |
| Year Built | 1961 |
| Property Type | |
| County | Los Angeles |
| Status | Active |
| Active | $4,600,000 |
| Structure Size | 12,628 sqft |
| Lot Size | 14,319 sqft |
| Beds | 25 |
| Baths | 23 |
Description
Well-maintained 17-unit building cash flowing at an amazing Current Cap Rate of 5.5% and 12.5 GRM from day 1 with an incredible 53% upside to 9.6% Cap Rate and 8.2 GRM on proforma in prime Hancock Park/Larchmont Village area. Attractively priced at only 270k/door and 364/SF with an 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) attached ADUs currently under construction. Additionally, 2 of the units have been completely 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.
Listing information courtesy of: Armin Soleimani, Global Platinum Properties, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 09/20/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Sahil Nandwani
REALTOR®
Direct: 213.880.3997
Email: Email Me
DRE: 02022979
DRE #01873088
.png){kind=small}