204 N Manhattan Place
Los Angeles, CA, 90004 $ 3,850,000
Bedrooms22 Baths20.0 Sq 11,555 Monthly Estimate*
$ 26,893
Listed by Global Platinum Properties, Inc.
for $3,850,000 with 22 bedrooms and 20 full baths. This 11,555 square foot home was built in 1961 on a lot size of 0.3287.
Price Reduction! Well-maintained 14-unit 11,555 SF building cash flowing at an amazing Current Cap Rate of 5.23% and 13 GRM from day 1 with an incredible 66% upside to 10% Cap Rate and 7.8 GRM on proforma in prime Hancock Park/Larchmont Village area. Attractively priced at only 275k/door and 333/SF with an excellent and large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 6 (1bed/1bath) units. Nearly RTI plans to add 3 attached ADUs in the garages to improve the numbers to only 226k/door, 7.1% Cap Rate, and 10.2 GRM on Current with upside to 11.9% Cap Rate and 6.7 GRM on proforma after building the ADUs. 2 of the units have been completely 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 13 covered parking spaces 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.
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FeaturesGeneralInterior Features CeilingFans
Heating WallFurnace
Appliances Refrigerator
Zoning LAR3
Year Built 1961
Stories 2
Levels Two
Gross Income 294366.0
County Los Angeles
Net Operating Income 201380.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage Y
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Located between Beverly Blvd. and Council Street just one block west of Western Ave.
City Los Angeles
View Y/N N
Senior Community Y/N N
Total Units 14
MLS Area C18 - Hancock Park-Wilshire
Lot Size Square Feet 14319.0
Private Pool N
Waterfront Y/N N
Carport Y/N Y
Street Name Manhattan
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 8
Standard Status Active
Cap Rate 5.23
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ExteriorParking Features AttachedCarport
Total Parking 0.0
Lot Size Area 14319.0
Number of Buildings 1
Spa N
Building Area Total 11555.0
Lot Size Acres 0.3287
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 0
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Place
Total Bedrooms 22
Electric On Property Y/N N
Total Baths 20
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* Excluded FeaturesList ByGlobal Platinum Properties, Inc.Broker
Affordability Calculator
- Monthly Principal & Interest
- $26,893
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,993,562
Percent of Sale Price 48%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 3/7/2024 | $3,850,000 | | Listed Price |