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3621 S Pacific AVE San Pedro, CA 90731
6,878 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25067550
HOA Y/N No
Year Built 1929
Lot Size 6,878 Sqft
Property Sub-Type Apartment
Property Description
Located in the charming Point Fermin/Palisades neighborhood of San Pedro, 3621 South Pacific is an 4-story, 18 unit multifamily property available for
sale for the first time in nearly 23 years! This investment opportunity is being offered at a 5.59% Cap Rate and 9.42 GRM – at an enticing cost per unit of only $152,778 (after May increases). A new owner has the ability to step into an already cashflowing asset with further upside potential of approximately 22%! The property features a unit mix of (6) one bedroom units and (12) studio units, several of which have large, forward facing windows with terrific views of the pacific ocean. Current ownership has always been attentive with staying ahead of capex work and the building is in good shape. The building is close to Cabrillo Beach, the Marina, as well as the brand new West Harbor redevelopment! The immediate area is filled with many terrific retail and entertainment options as well as basic amenities for tenants to take advantage of. San Pedro is known for it's small-town atmosphere and many family-owned businesses, with unique architecture, shops, hotels, restaurants, art galleries, studios, theaters, entertainment and more!
sale for the first time in nearly 23 years! This investment opportunity is being offered at a 5.59% Cap Rate and 9.42 GRM – at an enticing cost per unit of only $152,778 (after May increases). A new owner has the ability to step into an already cashflowing asset with further upside potential of approximately 22%! The property features a unit mix of (6) one bedroom units and (12) studio units, several of which have large, forward facing windows with terrific views of the pacific ocean. Current ownership has always been attentive with staying ahead of capex work and the building is in good shape. The building is close to Cabrillo Beach, the Marina, as well as the brand new West Harbor redevelopment! The immediate area is filled with many terrific retail and entertainment options as well as basic amenities for tenants to take advantage of. San Pedro is known for it's small-town atmosphere and many family-owned businesses, with unique architecture, shops, hotels, restaurants, art galleries, studios, theaters, entertainment and more!
Location
State CA
County Los Angeles
Area 181 - Point Fermin
Zoning LARD2
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Curbs
Private Pool No
Building
Lot Description Rectangular Lot
Story 4
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7467015016
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Josh Cohen • Keller Williams South Bay • 310-480-2130