Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
204 North Manhattan Place . Central LA , CA 90004
Prime Hancock Park/Larchmont Village area .For sale 14 units apartment building in Los Angeles, California. For more information on this listing please contact the listing agent, Armin Soleimani Realtor (310) 666-2246 arminsoleimani@gmail.com Lic: 01846872
Posted: 01/21/2024 6:47 am
| On HOMEiZ: 116 days |
Updated: 2 weeks ago
| Views: 365
Location Map
Property Type
Price reduced
Property Price
$3850000
$
N/A
14,364.00
Sq. Ft.
$333
11555
2.5%
5.00%
$0
$192500
13.57
$0
1.25%
$48125
Property Location & Description
Prime Hancock Park/Larchmont Village area .For sale 14 units apartment building in Los Angeles, California. For more information on this listing please contact the listing agent, Armin Soleimani Realtor (310) 666-2246 arminsoleimani@gmail.com Lic: 01846872
Rent Control
Well-maintained 14-unit 11,555 SF building cash flowing at an amazing
Current Cap Rate of 5% and 13.5 GRM from day 1 with an incredible
66% upside to 9.6% Cap Rate and 8.1 GRM on proforma in prime
Hancock Park/Larchmont Village area. Attractively priced at only 285k/
door and 346/SF with an excellent and large unit mix of 6
(2bed/2bath) units, 2 (2bed/1bath) units, and 6 (1bed/1bath) units.
Nearly RTI plans to add 3 attached ADUs in the garages to improve
the numbers to only 235k/door, 6.8% Cap Rate, and 10.6 GRM on
Current with upside to 11.4% Cap Rate and 7 GRM on proforma after
ADUs. 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 13 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. L
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.
14
$275000
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
1+1
6
708
$1758
2.
2+1
3
987
$1326
3.
2+2
5
987
$1842
4.
5.
5517-004-011
LAR3
100%
Wood & Stucco
2
1961
Good
Air Conditioning
Balcony
Storage Space
Laundry Facilities
Parking
Property Information
Sewer
Sewer System (Public)
Parking
Assigned Parking
No Data
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Core
More information
https://gppla.com/
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