204 N Manhattan Pl Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90004
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,628 sqft
Price per Sqft $435
MLS Listing ID 25587109
Bedrooms 25
Construction Status Updated/Remodeled
Year Built 1961
Lot Size 0.329 Acres
Acres 0.3287
Property Sub-Type Multi-Family
Property Description
Price Reduction! Well maintained 17-unit building in prime Hancock Park/Larchmont Village area cash flowing at an amazing Current Cap Rate of 5.3% from day 1 with upside to 7.5% Cap Rate on Proforma. Approved RTI plans to add 4 detached ADUs to achieve a remarkable 7% Current Cap Rate, 9.2% Proforma Cap Rate, and only 277k/door after taking into account all constructions costs (~340k assuming $250/SF). Large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 9 (1bed/1bath) units including 3 newly-built attached ADUs. Select 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 parking 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 Hancock Park-Wilshire
Zoning LAR3
Rooms
Other Rooms None
Interior
Heating Wall Electric, Electric
Cooling Multi/Zone
Equipment None
Exterior
Parking Features Gated
Garage Spaces 8.0
Pool In Ground
Waterfront Description None
Building
Story 2
Water Public
Level or Stories Two
Construction Status Updated/Remodeled
Others
Special Listing Condition Standard