1220 S Manhattan Pl (8 Units)

1220 S. Manhattan Place is an 8-unit walk-up apartment building on a palm tree-lined street in Country Club Park. The building is comprised of six (6) 1-bdrm + 1bath units and two (2) 2bdrm + 1 bath units, on a 8,422 sq ft lot. The property boasts a walkscore of 91 (a walker's paradise) and offers tenants easy access to freeways and major employment hubs. The property is minutes away from DTLA, Jefferson Park and West Adams. This is a great opportunity for investors looking for solid returns in an up-and-coming area.Value-add opportunity, rents are approximately 38% below market compared to renovated units in the area. 2 1B+1BA units will be delivered vacant. - 2 units delivered vacant, - No seismic retrofit required, - 9 parking spaces on-site. Cap rate and GRM assumes both vacant units leased at market rents. Call for an offering memorandum.