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1509 S Palos Verdes St - 1509 S Palos Verdes St 3 Unit Apartment Building Offered at $1,200,000 at a 4.42% Cap Rate San Pedro, CA 90731
INVESTMENT HIGHLIGHTS
- 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, d
- Only a few blocks from Cabrillo Marina and Cabrillo Beach
- Close proximity to Downtown San Pedro with art galleries, restaurants, boutiques, and other retail
EXECUTIVE SUMMARY
Large 1989 construction non-rent controlled (RSO) triplex with all 3 bed, 2 bath units. Each unit has almost 1200 square feet, in unit laundry, modern layouts, and a separate 2 car garage for 6 garaged parking spaces total. Two out of three units updated in the last 3 years. Very well priced at 11.96X GRM on actuals plus a 26% upside to a GRM of 9.3X and a 6.5% cap rate at market rents.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,200,000 | No. Units | 3 |
| Price Per Unit | $400,000 | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 3,556 SF |
| Cap Rate | 4.42% | No. Stories | 2 |
| Gross Rent Multiplier | 11.96 | Year Built | 1989 |
| Price | $1,200,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 4.42% |
| Gross Rent Multiplier | 11.96 |
| No. Units | 3 |
| Property Type | Multifamily |
| Building Size | 3,556 SF |
| No. Stories | 2 |
| Year Built | 1989 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 3 | $2,801 | - |
1 1
Walk Score®
Very Walkable (77)
Bike Score®
Biker's Paradise (93)
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1509 S Palos Verdes St - 1509 S Palos Verdes St
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