204 N Manhattan Pl, Los Angeles, CA 90004

$4,600,000
25
BD
23
BA
12,628
SqFt
List Price
$4,600,000
MLS#
24-391961
Year Built
1961
Bedrooms
25
Bathrooms
23
Living Sq. Ft
12,628
Lot Size
14,319
Days on Market
13
Property Type
Multifamily
Stories
2

Property 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.

Additional Information

Other Buildings
None
Heat
Wall
Cooling
Ceiling Fan
Number of Cars in Garage
Carport Attached

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Global Platinum Properties, Inc., Armin Soleimani - CA DRE#01846872

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