CA > Los Angeles
Los Angeles, CA 90004,204 N Manhattan PL
Los Angeles, CA 90004,204 N Manhattan PL
Los Angeles, CA 90004,204 N Manhattan PL
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$5,495,000
Est. payment /mo
25 Beds
23 Baths
12,628 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

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

HOA Y/N No

Year Built 1961

Lot Size 0.329 Acres

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 C18 - Hancock Park-Wilshire

Zoning LAR3

Interior

Heating Electric

Fireplace No

Exterior

Parking Features Gated

Pool In Ground

Community Features Gated

Total Parking Spaces 8

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 5517004011

Security Features Gated Community

Special Listing Condition Standard

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CRMLS – RECore
Listed by Armin Soleimani Global Platinum Properties, Inc.

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