2404 S Carolina St 4 Unit Apartment Building $1,300,000 ($325,000/Unit) 6.23% Cap Rate San Pedro, CA 90731

John Katnik and Maxwell Forester of BRC Advisors are pleased to present the exclusive offering of 2404 S Carolina St, a well-maintained four-unit multifamily property ideally located in San Pedro. The property features ocean views, four covered parking spaces, a shared outdoor patio, and recent property upgrades, offering investors an attractive opportunity to acquire a quality coastal multifamily asset.
This exceptional 4-unit multifamily property offers investors the opportunity to acquire a well-maintained asset in the highly desirable coastal community of San Pedro. Ideally positioned near the waterfront, Cabrillo Beach, Point Fermin, and the vibrant shops, restaurants, and entertainment throughout the South Bay, the property offers residents a desirable coastal lifestyle supported by strong rental demand. 2404 S Carolina St presents an attractive opportunity for both investors and owner-users.
2404 S Carolina St has benefited from several significant recent capital improvements, including a completely repaired foundation, new PEX plumbing throughout the building, and five new electrical panels, including a dedicated house panel. Both upstairs units, Units C and D, have been fully renovated, and the property also features new exterior paint and extended gutters to improve drainage around the building. These improvements enhance the overall condition of the property and reduce near-term capital expenditure needs for a new owner.
The property offers value-add potential through renovations to the downstairs units and future rent increases, providing an opportunity to enhance cash flow and income. Additional upside may be available through ADU development, subject to applicable zoning and permitting requirements. Buyer to verify all ADU potential, requirements, and feasibility. Combined with recent capital improvements and its desirable coastal location, the property offers both near-term income growth and long-term appreciation potential.
The asset presents investors with an attractive opportunity to acquire a well-maintained coastal multifamily property with additional upside in one of Southern California’s highly desirable coastal communities.