204 North Manhattan Place

Los Angeles, CA 90004

$5,195,000
Price
25
Beds
23
Baths
12,628 Sq. Ft.
$411 / Sq. Ft.
12,628
Sq. Ft.
$411
per Sq. Ft.

Description

Well-maintained 17-unit building cash flowing at an amazing Current Cap Rate of 5.5% and 12.7 GRM from day 1 with an incredible 35% upside to 8.1% Cap Rate and 9.4 GRM on proforma in prime Hancock Park/Larchmont Village area. Excellent and large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 9 (1bed/1bath) units including 3 brand-new (1bed/1bath) ADUs. Additionally, 4 of the units have been renovated and boast a high-end aesthetic with new modern cabinets, flooring, lighting, new bathrooms,...Well-maintained 17-unit building cash flowing at an amazing Current Cap Rate of 5.5% and 12.7 GRM from day 1 with an incredible 35% upside to 8.1% Cap Rate and 9.4 GRM on proforma in prime Hancock Park/Larchmont Village area. Excellent and large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 9 (1bed/1bath) units including 3 brand-new (1bed/1bath) ADUs. Additionally, 4 of the 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 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.
  1. Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
  2. Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.

Property Details for 204 North Manhattan Place

Zoning
LAR3
Parcel Number
5517004011
Total Units
17.0
Living Area
12628
Source Living Area
Owner
Area
Hancock Park-Wilshire
Vacancy Rate
4 Units
Lot Size Area
14319
LISTING UPDATED: 10/10/2024 12:01 AM

Property Details for 204 North Manhattan Place

StatusActive
MLS #24-448961
Days on Market53
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1961
Lot Size0.33 AC / 14,319 SF
CountyLos Angeles County

Building Information for 204 North Manhattan Place

Stories2Residences-Year Built1961Building Size-Lot Size0.33 AC / 14,319 SF

Property Information for 204 North Manhattan Place

Community / Development
Community / Development
  • Number Of Units: 17
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Courtyard
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $406,704
  • Net Operating Income: $285,568.00
  • Gross Income: $403,344
  • Cap Rate: 5.50%
  • Gross Rent Multiplier: $12.77
  • Total Annual Expense: 108934
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3287
  • Lot Size Square Feet: 14319
Parking Details
Parking Details
  • Parking Garage: Carport Attached
  • Total Parking: 4
  • Parking Features: Attached Carport
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Ceiling Fan
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Refrigerator, Range/Oven, Ceiling Fan
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-04-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,395.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,395.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $2,192.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $1,695.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $683.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $2,795.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $2,595.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $1,699.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $1,016.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,995.00
  • Unit Actual Rent: $2,084.00
  • Unit Projected Rent: $2,995.00
  • Like Units: 1
Unit 10 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,750.00
  • Unit Actual Rent: $1,776.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit 11 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $2,699.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit 12 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 1
Unit 13 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,495.00
  • Unit Actual Rent: $1,291.00
  • Unit Projected Rent: $2,495.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115, 2116, 2117, 2118
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,003,790.00
  • Assessed Improvement Percent: 36.17
  • Assessed Land Value: $1,771,402.00
  • Assessed Land Percent: 63.83
  • Assessed Total Value: $2,775,192.00

Property History for 204 North Manhattan Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 204 North Manhattan Place

Taxable ValueLand$2,400,000Additions$1,180,650Total$3,580,650
Tax Record2024$45,209 ($3,767 / month)
Home Facts
Total Finished SqFt11,555 SqFtAbove Grade Finished SqFt11,555 SqFtLot Size14,315 SqFtStyleMulti-Family Res (5+ Units)Year Built1961ZoningLAR3CountyLOS ANGELESAPN5517-004-011

Schools near 204 North Manhattan Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Van Ness Avenue Elementary School
PublicK to 5

Magnolia Science Academy 6 School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

Central City Value School
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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204 North Manhattan Place is a multi-family home for sale in Los Angeles, CA 90004. This property was listed for sale on October 2, 2024 by Global Platinum Properties, Inc., it's currently listed at $5,195,000. It has been on the market for a total of 53 days and was last sold on September 20, 2023. This listing's school district is Los Angeles Unified School District. Nearby schools include Van Ness Avenue Elementary School, Magnolia Science Academy 6 School and Fairfax Senior High School. 204 North Manhattan Place is a 25-bed, 23-bath, 12,628 sqft multi-family home built in 1961.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.