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204 N Manhattan Pl, Los Angeles, CA 90004

List Price: $5,495,000On Market FlagOn market
Jun 16, 202512,628 sqft25 beds23 baths
Listed by: Armin Soleimani
License #: 01846872
Phone #: 310-666-2246
Global Platinum Properties, Inc.
Source:
CRMLS Logo
MLS #: 25553225

Property Description

Price Reduction! Well maintained 17-unit building in prime Hancock Park/Larchmont Village area cash flowing at an amazing Current Cap Rate of 5.3% from day 1 with upside to 7.5% Cap Rate on Proforma. Approved RTI plans to add 4 detached ADUs to achieve a remarkable 7% Current Cap Rate, 9.2% Proforma Cap Rate, and only 277k/door after taking into account all constructions costs (~340k assuming $250/SF). Large unit mix of 6 (2bed/2bath) units, 2 (2bed/1bath) units, and 9 (1bed/1bath) units including 3 newly-built attached ADUs. Select 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 parking 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.
Assignment
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Kevin Kretzmer
Kevin Kretzmer

Role: TurboHome Head Agent

Experience: 10 years

No. of Transactions: 227

“I specialize in helping clients find their dream home or next investment in California, focusing on residential and multi-family properties. My client-first approach, clear communication, and attention to detail ensure that everyone I work with receives exceptional service.”

TurboHome Fair Market Estimate

TurboHome

TurboHome Savings

$82,182

TurboHome Estimated Value

$5,486,900

$435 sqft

High Valuation
$5,761,245
$456/sqft
Normal Valuation
$5,486,900
$435/sqft
Low Valuation
$5,212,555
$413/sqft

3rd Party Estimates

Source$/sqftValuation
HouseCanary$435/sqft$5,486,900

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