606 N Manhattan Pl, Hollywood, CA 90004

Property Description

PROBATE SALE. Court Confirmation is set for June 27, 2019. The hearing will take place at the Los Angeles Superior Court located at 111 N. Hill Street, Los Angeles, CA 90012, in Department 11, at 8:30 AM. The minimum overbid shall be $1,152,350. Buyer must bring to the court hearing a cashier's check made payable to the “Estate of Gabija Bonatas” for 10% of the purchase price.
 
 The subject site is an opportunity to redevelop and potentially build up to 14 units of multifamily or a small lot subdivision of 4-to-5 homes. Rents at new projects in the area are in the $3.50-4.50/ft range and re-sales of newly-built (v. 2014) homes at the Lennar project on Melrose & Gramercy (one block away) are in the $1M+ ($600/ft) range. Walkable to Paramount Studios, Larchmont Village and the various cafes/restaurants on Melrose, this site is an ideal urban infill location. Netflix will occupy three, different offices in the Hollywood Media District nearby, as are many other job creaters who are coming to town, including Viacom’s west coast headquarters. A short distance to the Red Line/Metrolink on Vermont, the 101 freeway, Silver Lake/Los Feliz to the east, and booming Koreatown just to the south.