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Reduced $100k! Existing 7.56% Cap Rate 2906 S San Pedro St 11 Unit Apartment Building $1,695,000 ($154,091/Unit) 7.56% Cap Rate Los Angeles, CA 90011
Investment Highlights
- Rare investment opportunity with 7.14% existing cap rate / 9.82 GRM coupled with rental upside exceeding 50%
- Prime location in bustling Los Angeles, close to Downtown and easily accessible
- Long term retail tenants anchored by a supermarket with immediate realizable upside coupled with residential tenants with tremendous upside
Executive Summary
The seller reduced the price by $100,000. Discover an incredible investment opportunity with this 11-unit mixed-use cash cow with tremendous upside, ideally located in vibrant Los Angeles, just a stone's throw from Downtown! Nestled on lively San Pedro Street, this property boasts fantastic visibility for its retail shops anchored by a supermarket.
The second floor features 7 residential units, offering strong room for growth. Currently operating at a solid 7.63% cap rate and an 9.27 GRM, there's exciting potential to achieve a remarkable 13.7% cap rate and a 5.93 GRM in the future, much of it realizable in the near term with thriving retail tenants (supermarket occupying 2 spaces or 50% of the retail space) that have been present for years most of which continue to be on month to month leases.
With 7,216 square feet of space, you'll find exceptional value at only $235 per square foot and $154k per unit. Whether you're pursuing a 1031 exchange or seeking immediate cash flow coupled with growth potential, this property is a fantastic choice!
The second floor features 7 residential units, offering strong room for growth. Currently operating at a solid 7.63% cap rate and an 9.27 GRM, there's exciting potential to achieve a remarkable 13.7% cap rate and a 5.93 GRM in the future, much of it realizable in the near term with thriving retail tenants (supermarket occupying 2 spaces or 50% of the retail space) that have been present for years most of which continue to be on month to month leases.
With 7,216 square feet of space, you'll find exceptional value at only $235 per square foot and $154k per unit. Whether you're pursuing a 1031 exchange or seeking immediate cash flow coupled with growth potential, this property is a fantastic choice!
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| Studios | 9 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 5128-015-041 | Improvements Assessment | $443,845 |
| Land Assessment | $178,949 | Total Assessment | $622,794 |
Property Taxes
Parcel Number
5128-015-041
Land Assessment
$178,949
Improvements Assessment
$443,845
Total Assessment
$622,794
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Reduced $100k! Existing 7.56% Cap Rate | 2906 S San Pedro St
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