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    350 S Manhattan Place

    Los Angeles (City), CA 90020
    • $2,500,000
    • STATUS: Active
    • ON SITE: 10 days
    • MLS #: 21675280
    UPDATED: 31 min ago
    $2,500,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,668
      SQFT
    • $288
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1957
    County:

    School Ratings & Info

    Description

    The property is a 2-story, 11-unit value-add multi-family investment w/ +/- 50% rental upside. Built in 1957, the building is comprised of 2 singles, 6 (1+1), 1 (2+1) and 2 (2+2) units that avg. approx. 785+ gross sqft. Select units have undergone upgrades over the years, including 2 units that have been more extensively remodeled since 2018. The 8,668 sqft structure sits on an 8,651 sqft, LAR4-1 zoned lot w/ 13 individual parking spaces, a communal patio/courtyard area, and on-site laundry. The building has a brand-new roof, new main water heater, and the required City of LA seismic retrofitting work was recently completed. The building is separately metered for gas & electric. The central Koreatown/Mid-Wilshire adjacent location offers tenants access to the surrounding DTLA, Hollywood, Mid-City, + revitalized West Adams neighborhoods. The property is close to the 10,101, and 110 Freeways, + the Wilshire/Western Metro purple line station is just 2 blocks away.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-16T18:28:37.183. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

    www.desertareahomesforsale.com/homes/113030411
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    350 S Manhattan Place Los Angeles (City), CA 90020

    • Price: $2,500,000
    • Status: Active
    • Updated: 31 min ago
    • MLS #: 21675280
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    8,668
    SQFT
    $288
    $/SQFT
    1957
    Built
    Neighborhood:
    HPK - Hancock Park
    County:
    Los Angeles
    Area:
    HPK - Hancock Park
    Property Description
    The property is a 2-story, 11-unit value-add multi-family investment w/ +/- 50% rental upside. Built in 1957, the building is comprised of 2 singles, 6 (1+1), 1 (2+1) and 2 (2+2) units that avg. approx. 785+ gross sqft. Select units have undergone upgrades over the years, including 2 units that have been more extensively remodeled since 2018. The 8,668 sqft structure sits on an 8,651 sqft, LAR4-1 zoned lot w/ 13 individual parking spaces, a communal patio/courtyard area, and on-site laundry. The building has a brand-new roof, new main water heater, and the required City of LA seismic retrofitting work was recently completed. The building is separately metered for gas & electric. The central Koreatown/Mid-Wilshire adjacent location offers tenants access to the surrounding DTLA, Hollywood, Mid-City, + revitalized West Adams neighborhoods. The property is close to the 10,101, and 110 Freeways, + the Wilshire/Western Metro purple line station is just 2 blocks away.
    Exterior Features

    Direction Faces West Lot Size Units Square Feet Parking Features Assigned Parking YN Yes Pool Features None Pool Private YN No Spa Features None Spa YN No

    Interior Features

    Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Heating Wall Furnace Heating YN Yes Laundry Features Community

    Property Features

    Country Us Gross Income 175170.00 Gross Multiplier 14.27 Gross Operating Income 170065.00 Laundry YN Yes Net Operating Income 97722.00 Rent Control YN Yes Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Tenant Pays GasElectricity Total Expenses 72343.00 Zoning Lar4-1

    Listing provided courtesy of Matthew R. Kanner of Keller Williams Realty Los Feliz


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-16T18:28:37.183. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Desert Area Homes For Sale | Premier Properties. Licensed in the State of California, USA.

     
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