$ 5,195,000
204 N Manhattan Place Los Angeles, CA 90004
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$ 5,195,000
Est. payment | /mo
12,628 SqFt
$ 5,195,000
Est. payment | /mo
12,628 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,628 sqft
Price per Sqft $411
MLS Listing ID CL24448961
HOA Y/N No
Year Built 1961
Lot Size 0.329 Acres
Acres 0.33
Property Description
Well-maintained 17-unit building cash flowing at an amazing Current Cap Rate of 5.5% and 12.7 GRM from day 1 with an incredible 35% upside to 8.1% Cap Rate and 9.4 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.
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Type Other
Building
New Construction No
Others
Tax ID 5517004011
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Armin Soleimani • Global Platinum Properties, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "