Well maintained 17-unit building in prime Hancock Park/Larchmont Village area cash flowing at an amazing Current Cap Rate of 5% from day 1 with upside to 7.1% Cap Rate on Proforma. Preliminary plans to add 4 detached ADUs to achieve a remarkable 6.6% Current Cap Rate, 8.7% Proforma Cap Rate, and only 289k/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.
Property Details
Price:
$5,750,000
MLS #:
25553225
Status:
Active
Baths:
0
Address:
204 N Manhattan Place
Type:
Residential Income
Neighborhood:
c18hancockparkwilshire
City:
Los Angeles
Listed Date:
Jun 16, 2025
State:
CA
ZIP:
90004
Lot Size:
14,319 sqft / 0.33 acres (approx)
Year Built:
1961
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Schools
Interior
Heating
Electric
Exterior
Parking Features
Gated
Parking Spots
8.00
Stories Total
2
Financial
Map
Community
- Address204 N Manhattan Place Los Angeles CA
- AreaC18 – Hancock Park-Wilshire
- CityLos Angeles
- CountyLos Angeles
- Zip Code90004
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204 N Manhattan Place
Los Angeles, CA
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