$5,195,000
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Manhattan Pl Los Angeles, CA 90004
Other
Residence
25
Beds
23
Baths
...
Bed/Bath
12,628
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
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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.
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MLS#
24-448961
Property Type
Other
Bedrooms
25
Bathrooms
Year Built
1961
Square Feet
12,628
sq. ft
Price per Sq. Ft.
$411.39
Lot Size
0.33
Sewer
No Sewer
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