204 N Manhattan Place, Los Angeles, CA 90004

• 12,628 sqft

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 & Stra

Listing Status:

Active

Date Added:

September 3, 2025 at 05:00AM

Listing Office:

Global Platinum Properties, Inc. : 424-394-1030

Listing Agent:

Armin Soleimani : 310-666-2246

MLS ID:

CL25587109

Interior

• Heating: Electric

Exterior

• Parking: Other

Location

• County: Los Angeles

Lot

• Zoning: LAR35517004011

This listing courtesy of Armin Soleimani, Global Platinum Properties, Inc.