Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    244 Manhattan Pl Los Angeles, CA 90004

    • Medical offices
    • 18,369 SF
    • 0.57 lot acres
    OFF-MARKET
    Value Estimations
    $805,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7270331
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical offices

    Property Details for 244 Manhattan Pl

    Year built
    1930
    Lot size
    0.57 lot acres
    Property size
    18,369 SF
    Zone code
    LAC2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    5517-004-018
    APU
    5517004018

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $775,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,257,000
      Market price range: $449k - $3.08M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.31
    Latitude
    34.076
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $52,450
    $2,697,883
    $1,419,930
    $4,117,813
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $445,000
      7,228 SF

      4620 Beverly Blvd

      MEDICAL BUILDING • 7,228 SF
      4620 Beverly Blvd, Los Angeles, CA 90004-3102
      View Details
    • Value Estimation
      $1,870,000
      1,722 SF

      659 Hobart Blvd

      MEDICAL BUILDING • 1,722 SF
      659 Hobart Blvd, Los Angeles, CA 90004-1848
      View Details
    • Value Estimation
      $560,000
      14,200 SF

      3919 Beverly Blvd

      MEDICAL BUILDING • 14,200 SF
      3919 Beverly Blvd, Los Angeles, CA 90004-3432
      View Details
    • Value Estimation
      $385,000
      2,954 SF

      607 Larchmont Blvd

      MEDICAL BUILDING • 2,954 SF
      607 Larchmont Blvd, Los Angeles, CA 90004-1307
      View Details
    • Value Estimation
      $365,000
      4,364 SF

      4619 Beverly Blvd

      MEDICAL BUILDING • 4,364 SF
      4619 Beverly Blvd, Los Angeles, CA 90004-3101
      View Details
    • Value Estimation
      $265,000
      1,386 SF

      3761 Beverly Blvd

      MEDICAL BUILDING • 1,386 SF
      3761 Beverly Blvd, Los Angeles, CA 90004-3528
      View Details

    Similar Nearby for Sale

    • $750,000

      Established Dental Practice in Koreatown

      Thriving dental practice in Koreatown with $1M+ gross income potential.
      Los Angeles, CA 90004
      View Details
    • $1,150,000
      2,114 SF

      Los Angeles Multifamily Opportunity

      Multifamily property in prime location with development potential.
      4572 Rosewood Ave, Los Angeles, CA 90004
      View Details
    • Contact for pricing
      13,248 SF

      Koreatown Property with Redevelopment Potential

      Prime Koreatown location with income and redevelopment opportunities.
      304 S Kingsley Dr, Los Angeles, CA 90004
      View Details
    • $3,500,000
      2,094 SF

      Two-Story Commercial Building For Sale

      Two-story commercial building with flexible zoning in Los Angeles.
      626 N Larchmont Blvd, Los Angeles, CA 90004
      View Details
    • $3,100,000
      11,016 SF

      Koreatown Mixed-Use Investment Opportunity

      Mixed-use retail/office building on a signalized corner lot.
      4406-4414 S Western Ave, Los Angeles, CA 90004
      View Details
    • $1,750,000

      Transit-Oriented Development Opportunity in Los Angeles

      Entitled development site near Vermont/Beverly Redline Station.
      226 Catalina St, Los Angeles, CA 90004
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,625 SF

      Larchmont Blvd Executive Office Space

      Prime Location, 1625 SF, Available Now
      434 Larchmont Blvd, Los Angeles, CA 90004
      View Details
    • $5 SF/Yr
      1,515 SF

      Larchmont Boulevard Office Space

      Office space with private offices, conference room, and parking.
      501-505 N Larchmont Blvd, Los Angeles, CA 90004
      View Details
    • $3,500 /Mo
      1,320 SF

      Spacious Condo Near Hancock Park

      Three-bedroom condo with modern amenities and convenient location.
      401 N Serrano Ave, Los Angeles, CA 90004
      View Details
    • Contact for pricing
      2,600 SF

      Retail/Food Space on Beverly Blvd

      First floor retail or food use space available for rent.
      3977-3979 Beverly Blvd, Los Angeles, CA 90004
      View Details
    • $3,895 /Mo

      Larchmont Village 4-Bed Duplex

      Spacious, updated 4-bedroom apartment in prime Larchmont Village location.
      548 N Windsor Blvd, Los Angeles, CA 90004
      View Details
    • Contact for pricing
      1 SF

      Los Angeles Commercial Kitchen Space

      Prime 250 sq ft ghost kitchen, ideal for startups.
      615 Western Ave, Los Angeles, CA 90004
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    244 Manhattan Pl
    Los Angeles, CA 90004
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.