806 South Manhattan Place, Los Angeles, CA 90005

property

806 South Manhattan Place, Los Angeles, CA 90005

IRR

20.3%

Equity multiple

2.01x

The development site is located at 806 Manhattan Pl in the heart of Koreatown, two blocks south from Wilshire Blvd. and Western Ave., which has a subway station and the Iconic Wiltern Theater. The development site is a 7,500 SF parcel of land and will consist of 21 market rate units, 8 fully-furnished units for corporate housing tenants, and 4 low-income apartment units, for a total of 33 units. This site is made attractive by a dense R4-1 zoning TOC Tier 3 (70% Density Bonus), FAR of 3:1 with 50% increase, with no height restrictions. The property was acquired in December 2022. The vision for the project is to build a modern boutique apartment complex with progressive but cost-efficient design elements.
The Project has received approved TOC Tier 3 verification and submitted to Building and Safety PZA (Project Zoning Approval). Once approved we anticipate to obtain Building Permits within 12 months.
Bedrock Property Investors, LLC in partnership with DCX Developers and Archeon Group has extensive expertise in designing and developing a broad range of real estate assets. Archeon, a Los Angeles-based architectural and development firm, has designed over 10,000 multifamily units and has a 30+ year track record with numerous award-winning projects.
Investment details and proforma are available upon request.

Invest with Bedrock

Bedrock Property Investors, LLC invites you to join us on our journey to make a difference in the lives of individuals and communities. Together, let’s create a brighter future by developing thriving, inclusive neighborhoods where everyone can thrive.