Property Detail

Description

Super high yield 5 unit property for under $1M only 1 block from the huge brand new LA Waterfront development. Two large (3) bed, (2) bath units plus 3 studio units in rear in three structures total plus off street parking for 5 cars. Large front units just remodeled in 2025 and leased at market. Attractive income at an in place GRM of 9.8 and an actual cap rate of 6.2% plus a 15% upside to 8.5X GRM and 7.5% cap rate at market rents. Only $199K/door. Separately metered for electricity, gas, and trash for a low expense building. Only 1 block from the massive 42 acre West Harbor LA Waterfront development with over a mile of waterfront access and 375,000 square feet of retail, dining, and entertainment slated to open in 2026. 3 blocks from Downtown San Pedro with art galleries, restaurants, boutiques, and other retail. Only a few blocks from Cabrillo Marina and Cabrillo Beach.