204 N Manhattan Pl | Los Angeles, CA 90004
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204 N Manhattan Pl
Los Angeles, CA 90004
Reduced! Existing 5.23% Cap w upside to 10% · Build-to-Rent Property For Sale
·
14 Units
INVESTMENT HIGHLIGHTS
- In the prime Hancock Park/Larchmont Village area, this well maintained 14-unit 11,555 SF building cash flows @ an incredible Current Cap Rate of 5.23%
- Nearly RTI plans to add 3 attached ADUs to the garage to improve the numbers to 226k/door, 7.1% cap rate, and 10.2 GRM on current basis, and 11.4% Cap
- The property features a renovated pool and courtyard with seating areas, laundry facilities, secure entry, and 13 covered parking spaces.
- Attractive pricing at only 275k/door and 333/SF with an excellent unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 6 (1bed/1bath).
- Two units have been completely renovated with new cabinets, flooring, lighting, bathrooms, stainless steel appliances, and major exterior upgrades.
- It is individually metered for gas and electricity, with a soft-story retrofit already completed.
PROPERTY FACTS
| No. Units | 14 | Property Size | 12,628 sq ft |
| Property Type | Build-to-Rent | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Floors | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1961/2023 |
| Costar Property Class | C | Parking Allocation | 0.87/1,000 sq ft |
| Total Plot Size | 0.32 ac | ||
| Use Class | R3 | ||
| No. Units | 14 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.32 ac |
| Property Size | 12,628 sq ft |
| Average Occupancy | 94% |
| No. Floors | 2 |
| Year Built/Renovated | 1961/2023 |
| Parking Allocation | 0.87/1,000 sq ft |
| Use Class | R3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Storage Space
- Heating
- Kitchen
- Stainless Steel Appliances
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 6 | - | 708 |
| 2+1 | 3 | - | 987 |
| 2+2 | 5 | - | 987 |
PROPERTY TAXES
| Parcel Number | 5517-004-011 | Improvements Assessment | £899,884 |
| Land Assessment | £1,830,272 | Total Assessment | £2,730,155 |
PROPERTY TAXES
Parcel Number
5517-004-011
Land Assessment
£1,830,272
Improvements Assessment
£899,884
Total Assessment
£2,730,155
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