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Listing 11 out of 50
$2,700,000 Active Under Contract

644 North Manhattan Place
Los Angeles, CA 90004

12 beds | Residential Income
5,724 sq ft - MLS# 19478968
Property Photo
1/28

Description

644 N Manhattan is a luxurious new construction fourplex made up of two standalone 3-story duplexes in a prime East Hollywood location. This centrally located property is minutes from Paramount Studios, Raleigh Studios, trendy Larchmont Village, upscale Hancock Park, Koreatown, and all the action Hollywood has to offer. Property is in the final stages of construction, with completion estimated to be July 2018 This property provides investors an unbelievably high projected cap rate of 5.24%. In addition, to the high return, buyers will enjoy other valuable perks including: NO RENT CONTROL, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric. Between the fantastic location and the countless benefits of buying high quality new construction, purchasing this property is a savvy investment. The property units' pro forma rents of $3,700 & $3,900 are very conservative market rents. There are 12 parking spaces 2 per unit and 4 driveway.

Features

  • Property Type: Residential Income
  • Sub Type: Fourplex
  • Listing Status: Active Under Contract
  • County/Area: Los Angeles County
  • Zip Code: 90004
  • Year Built: 2019
  • Subdivision/Neighborhood: Hancock Park-Wilshire (C18)
  • Sq.Ft.: 5,724 sq ft
  • Style: Architectural
  • Stories: 3+-Story
  • Bedrooms: 12
  • # of Parking Spaces: 8
  • Zoning: LAR3
  • Adjusted Gross Income: 146928.00
  • Agent License Number: 01395772
  • Appliances: Gas Or Electric Dryer Hookup
  • City Code: 10000058287
  • Cooking Appliances: Microwave, Range
  • Cooling Type: Air Conditioning
  • Covered Spaces Total: 8
  • Expense Total Annual: 35552.00
  • Gross Operating Income: 182480.00
  • Gross Rent Multiplier: 18.37
  • Heating Type: Central Furnace
  • Lot Size SQFT: 6258
  • Lot Size Source: Appraiser
  • Net Operating Income: 146928.00
  • Number Of Buildings: 2
  • Other Structural Features: Balcony
  • Parking Features: Covered Parking, Driveway - Concrete
  • Square Footage Source: Builder
  • Total Floors: 3
  • Unit Furnished01: Unfurnished
  • Unit Furnished02: Unfurnished
  • Unit Furnished03: Unfurnished
  • Unit Furnished04: Unfurnished
  • Unit Furnished05: Partially
  • Unit Furnished06: Partially
  • Unit Furnished07: Partially
  • Unit Furnished08: Partially
  • Unit Furnished09: Partially
  • Unit Furnished10: Partially
  • Unit Furnished11: Partially
  • Unit Furnished12: Partially
  • Unit Furnished13: Partially
  • Unit Monthly Rent01: 3700.00
  • Unit Monthly Rent02: 3700.00
  • Unit Monthly Rent03: 3900.00
  • Unit Monthly Rent04: 3900.00
  • Unit Number Of Bath01: 3.0
  • Unit Number Of Bath02: 3.0
  • Unit Number Of Bath03: 3.0
  • Unit Number Of Bed01: 3
  • Unit Number Of Bed02: 3
  • Unit Number Of Bed03: 3
  • Unit Number Of Bed04: 3
  • Units In Complex: 4
  • h: 3.0
Courtesy of Condosource, M Troy Soumis (CalBRE: 01395772)


Gail Mercedes Cole (310) 853-9933

The Hills Premier Realty
9595 Wilshire Blvd, Ste #900, Beverly Hills, CA 90212
Beverly Hills, CA 90212

This is not intended as a solicitation of prospective buyers or sellers who already have an exclusive agency agreement with another agent. All information deemed accurate but not guaranteed, CalDRE#00788828
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