Property Description 2637 S Manhattan Place, Jefferson Park, CA 90018
2637 South Manhattan Place is a 9-Unit affordable Multifamily property located in the Jefferson Park neighborhood of Los Angeles, in close proximity to USC, The Metro, Downtown, and the 10 freeway. Originally built in 2007, the property features an attractive unit mix with eight (3 bedroom) and one (4 bedroom) units, each with in-unit laundry, private balcony and on-site, secured parking. This property offers investors a rare opportunity to acquire a well maintained and stabilized asset (low turnover) at an attractive 5.2% going-in Cap rate. The property is under a 30-year affordability covenant that runs through 2036. Eight units currently have Section 8 tenants. Section 8 offers many benefits including a large tenant pool – which limits downside risk and vacancy – and guaranteed payments. Since the property was constructed in 2007 it is not subject to rent control. Appliances not included in sale.