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204 N Manhattan Pl, Los Angeles, CA 90004
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204 N Manhattan Pl Los Angeles, CA 90004

$3,995,000
  • 22 Beds
  • 20 Baths
  • 11,555 Sq.Ft.
For Sale
$3,995,000 Get Pre-Qualified
Map preview of 204 N Manhattan Pl, Los Angeles, CA 90004

Property Overview: 204 N Manhattan Pl Los Angeles, CA has 22 bedrooms, 20 bathrooms, 11,555 living square feet and 14,319 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Well-maintained 14-unit 11,555 SF building cash flowing at an amazing Current Cap Rate of 5% and 13.5 GRM from day 1 with an incredible 66% upside to 9.6% Cap Rate and 8.1 GRM on proforma in prime Hancock Park/Larchmont Village area. Attractively priced at only 285k/door and 346/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 235k/door, 6.8% Cap Rate, and 10.6 GRM on Current with upside to 11.4% Cap Rate and 7 GRM on proforma after 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.

Listed by Armin Soleimani | BRE #01846872 | Global Platinum Properties, Inc.
Co-listed by Julio Ruiz | BRE #01911261 | Global Platinum Properties, Inc.
Last checked: 10 minutes ago | Last updated: January 12th, 2024 | Source CRMLS | DOM: 96
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Home details

Lot Sq. Ft
14,319
HOA Dues
$0/mo
Year built
1961
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24345541
City
Los Angeles
County
Los Angeles
Time on Site
114 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 14
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,690
  • Total Rent: $1,690
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,288
  • Total Rent: $2,288
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,288
  • Total Rent: $2,288
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $913
  • Total Rent: $913
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $779
  • Total Rent: $779
  • Pro Forma/Market Rent: $2,995
Unit Breakdown 6
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,495
  • Total Rent: $0
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,325
  • Total Rent: $1,325
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,795
  • Total Rent: $1,795
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,247
  • Total Rent: $1,247
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 10
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,872
  • Total Rent: $1,872
  • Pro Forma/Market Rent: $2,995
Unit Breakdown 11
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,112
  • Total Rent: $1,112
  • Pro Forma/Market Rent: $2,495
Unit Breakdown 12
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,080
  • Total Rent: $2,080
  • Pro Forma/Market Rent: $3,250
Unit Breakdown 13
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,872
  • Total Rent: $1,872
  • Pro Forma/Market Rent: $2,495
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5%
  • Gross Rent Multiplier: 13.57
  • Gross Scheduled Income: --
  • Net Operating Income: $199,684
  • Gross Operating Income: $285,535
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 204 N Manhattan Pl

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Ceiling Fan(s)
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Attached Carport
Property Information
  • Total # of Units: 14
  • Parcel Number: 5517004011
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Located between Beverly Blvd. and Council Street, just one block west of Western Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 204 N Manhattan Pl

Last sold on September 19th, 2013

  • March, 2024

  • Mar 1, 2024

    Date

    Canceled

    CRMLS: 24345541

    $3,850,000

    Price

  • Jan 9, 2024

    Date

    Active

    CRMLS: 24345541

    $3,995,000

    Price

  • Listing provided courtesy of CRMLS

    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.

  • January, 2024

  • Jan 9, 2024

    Date

    Active

    CRMLS: 24345541

    $3,995,000

    Price

  • May, 2019

  • May 28, 2019

    Date

    Expired

    CRMLS: 18411072

    $4,000,000

    Price

  • Nov 27, 2018

    Date

    Active

    CRMLS: 18411072

    $4,000,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present a fourteen unit multifamily property located in Koreatown, California. Situated at 204 North Manhattan Place, south of Beverly Boulevard and west of North Western Avenue, the property is well positioned in a prime area of Los Angeles that is adjacent to Hancock Park.The property sits in a premium location, and has an excellent unit mix of six (6) one bedroom/ one bathroom units, three (3) two bedroom/ one bathroom units, and five (5) two bedroom/ two bathroom units. Tenants enjoy onsite parking, a sparkling pool, and an easy walk to main streets of the city.Well positioned in a prime Koreatown location, the subject property offers dominant access to numerous entertainment possibilities, which presents a special opportunity for an investor to capitalize on significant rental upside potential.

  • September, 2013

  • Sep 19, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • March, 2013

  • Mar 19, 2013

    Date

    Sold (Public Records)

    Public Records

    $2,350,000

    Price

Show More

Tax History for 204 N Manhattan Pl

Assessed Value (2020): $2,640,729
Year Land Value Improved Value Assessed Value
2020 $1,685,159 $955,570 $2,640,729

Home Value Compared to the Market

This property vs the competition

204 N Manhattan Pl is listed 226.12% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $345.74 per/sqft which puts the price per square foot 55.33% lower than the median price per square foot for the city of Los Angeles.

About 204 N Manhattan Pl

Detailed summary of property

204 N Manhattan Pl is a multi family located in Los Angeles, CA 90004 and is currently for sale. This multi family property offers 22 bedrooms, 20 bathrooms, roughly 11,555 living square feet, and sits on an approximately 14,319 square foot lot. 204 N Manhattan Pl was first listed on ArdentRealEstateGroup.com on January 9, 2024. The homeowner is currently asking $3,995,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 226.12% higher than the median priced home. Local competing homes currently for sale include 810 S St Andrews Pl, 730 Crenshaw Blvd and 821 S Wilton Pl. While the average home in Los Angeles, CA is selling in 96 days, 204 N Manhattan Pl has a days on market of 96 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 204 N Manhattan Pl Los Angeles, CA 90004 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 204 N Manhattan Pl

Public county record property details
Beds
--
Baths
20
Year built
1961
Sq. Ft.
11,555
Lot Size
14,314
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
11,12
APN
5517-004-011

The source for these homes facts are from public records.

90004 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,388,000
Median List Price/Sq.Ft.
$810
Median Sold Price
$1,650,000
Median Sold Price/Sq.Ft.
$873
Total Inventory
64
Median Sale to List Price %
97.35%
Avg Days on Market
27
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (13.33%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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