3621 S Pacific Avenue
San Pedro, CA 90731
0.16 acres | #SB25067550
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!
Property Details
- Lot DescriptionRectangularLot
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$2,750,000
- MLS #SB25067550
- MLS #SB25067550
- Property SubtypeApartment
- Cost2750000
- Acres0.1579
- Utility SourcePublic
- Year Built1929
- Stories4
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Josh Cohen (#SCOHEJOS)
Listing Office: Keller Williams South Bay (#S6669)
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