McMullin Drake Investments LLC Acquires Multifamily Property In Jefferson Park For $3.4M
2637 South Manhattan Place
$3,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 28, 2022
AI
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.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93