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: 114 days | Updated: 2 weeks ago | Views: 359

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 
708 
$1758
2.
2+1 
987 
$1326
3.
2+2 
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/

Listing Info

Listing ID: 3424
Price reduced

For Sale

$3,850,000

Listing Presented by

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