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$1,575,000
Est. payment /mo
8 Beds
8 Baths
3,237 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,237 sqft
Price per Sqft $486
MLS Listing ID 25602903
Bedrooms 8
HOA Y/N No
Year Built 1923
Lot Size 8,102 Sqft
Property Description
This exceptional investment opportunity features two adjacent fourplexes in the heart of San Pedro, California, each with its own Assessor's Parcel Number, comprising a total of eight single-story one-bedroom, one-bathroom units on a spacious 8,100 square-foot combined lot. Currently delivering strong financial performance with a 6.05% cap rate and 11.25 gross rent multiplier, the property offers significant upside potential, projecting an 8.37% pro-forma cap rate and 8.87 pro-forma GRM through targeted rent increases and enhancements. Its prime location, less than one mile from the iconic Los Angeles Waterfront, the transformative West Harbor development, the picturesque San Pedro Promenade, and the upcoming 6,200-seat waterfront amphitheater, positions it for substantial appreciation amid ongoing revitalization. Fully gated for security and equipped with eight dedicated parking spaces, the asset is conveniently situated just a half-mile from key employment and tourism drivers, including the World Cruise Center, Battleship USS Iowa Museum, Los Angeles Maritime Museum, and the bustling Port of Los Angeles. The expansive lot further unlocks future value through opportunities to add Accessory Dwelling Units (ADUs) or pursue redevelopment, making this a versatile and high-potential holding in a dynamic coastal market poised for growth.
Location
State CA
County Los Angeles
Area 189 - Barton Hill
Zoning LAR2
Interior
Fireplace No
Exterior
Parking Features Uncovered
Total Parking Spaces 8
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 7449003034
Special Listing Condition Standard
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Listed by Gianluca Jacoli Shield CRE, Inc.
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