McMullin Drake Investments LLC Acquires Multifamily Property In Jefferson Park For $3.4M
SOLD
$3,400,000
California
See Similar DealsMultiFamily
Sold 07/28/2022
SOLD
McMullin Drake Investments LLC Acquires Multifamily Property In Jefferson Park For $3.4M
2637 South Manhattan Place
See Similar DealsMultiFamily
Sold 07/28/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2637 S. Manhattan Pl. in Jefferson Park has been sold in a closed transaction. The property consists of 9 units with a total square footage of 9,168. The sale price for this asset was $3,400,000, which translates to a price per unit of $377,777 and a price per square foot of $370.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,400,000
- Address: 2637 S. Manhattan Pl.
- Market: Jefferson Park
- Units: 9
- Price Per Unit: $377,777
- Square Footage: 9,168
- Price Per Square Foot: $370
The buyer of this property is McMullin Drake Investments LLC, represented by Morgan McMullin and Bo Drake. The seller is Lucy Lozano. Luis Ruiz from Keller Williams served as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$181,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,079.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,117.73
Annual Debt Service$193,412.82
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