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$5,195,000

Beds
25
sq ft
12,628

204 N Manhattan Pl, Los Angeles, CA 90004

204 N Manhattan Pl

Los Angeles, CA 90004

  • 80 days on market
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.

Details

Property type

Est. home value

$2,262,166

Lot size

0.3287 acres

Price per sq ft

$412

Year built

1961

HOA

No

Price History

10/02/2024
CLAW

CLAW #24448961

Listed
$5,195,000
+12.93%
09/27/2024
CLAW

CLAW #24391961

Removed
$4,600,000
05/14/2024
CLAW

CLAW #24391961

Listed
$4,600,000
+19.48%

Schools & Community

Neighborhood: 

Mid Wilshire

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Conventus Llc

Loan start date

September 2023

Original loan amount

$1,912,575

Est. remaining balance

Not provided

Interest rate

6.9%

Loan type

Commercial

Seller

North Hills Apartments Llc and Sktk Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/23/2024 at 7:10 PM

Listing updated: 12/04/2024 at 7:45 PM

Listed by: Armin Soleimani, Global Platinum Properties, Inc. Phone #: (424) 394-1030

MLS: CLAW #24448961

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