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2637 South Manhattan Place

McMullin Drake Investments LLC Acquires Multifamily Property In Jefferson Park For $3.4M
SOLDMultiFamily

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

Luis Ruiz

Keller Williams Realty

Broker

$3.4M

vol

1 deal

Broker
Morgan McMullin

Morgan McMullin

McMullin Drake Investments LLC

Buyer

$30.5M

vol

5 deals

Buyer

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