Description

2109 Manitou Avenue presents a turnkey multifamily investment comprising eight residential units and 7,154 square feet of rentable space. Offered at $2,275,000 ($318 per square foot), the property delivers an in-place net operating income of $143,791, representing a 6.32% cap rate, a 9.98 GRM and a 4.55% cash-on-cash return. With occupancy at 88%, this asset provides stable cash flow with near-term upside potential through targeted leasing strategies.

Built in 1989 and thoughtfully maintained, the building features a practical unit mix and 14 dedicated parking stalls to meet tenant demand. Its solid infrastructure requires minimal capital expenditure, allowing investors to prioritize rent growth and operational efficiencies. Average market rents in the submarket are approximately $2,700 per unit, underscoring the opportunity to align in-place rents with prevailing rates.

Strategically situated in Los Angeles, CA 90031-2240, 2109 Manitou Avenue offers seamless access to major employment centers, public transit and an expanding array of retail and dining destinations. This offering represents an attractive entry point into Southern California’s resilient multifamily sector, ideal for investors seeking both immediate income and long-term appreciation.