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684 W 23rd St - 684 W 23rd 3 Unit Apartment Building Offered at $1,145,000 at a 4.47% Cap Rate San Pedro, CA 90731
INVESTMENT HIGHLIGHTS
- Beautiful Point Fermin location only 3 blocks to Cabrillo Marina and a few blocks to Cabrillo Beach
- Close proximity to Downtown San Pedro with art galleries, restaurants, boutiques, and other retail
- Less than a mile from the massive 42 acre West Harbor LA Waterfront development with 1+ mile of waterfront access and 375,000 sqft of entertainment
EXECUTIVE SUMMARY
Large 1999 construction non-rent controlled (RSO) triplex with 100% townhome style units. Extra large 2 story owner's unit in front with 3 beds and 2.5 baths plus attached 2 car garage. Two more large 2 story townhome style units in rear with 2 beds and 1.5 baths each. Parking lot in rear with 4 spaces for rear units. Well priced at 13.18X GRM on actuals plus a 27% upside to a GRM of 10.4X and a 6.3% 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 | $1,145,000 | No. Units | 3 |
| Price Per Unit | $381,667 | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 3,266 SF |
| Cap Rate | 4.47% | No. Stories | 2 |
| Gross Rent Multiplier | 13.18 | Year Built | 1999 |
| Price | $1,145,000 |
| Price Per Unit | $381,667 |
| Sale Type | Investment |
| Cap Rate | 4.47% |
| Gross Rent Multiplier | 13.18 |
| No. Units | 3 |
| Property Type | Multifamily |
| Building Size | 3,266 SF |
| No. Stories | 2 |
| Year Built | 1999 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 1 | $3,199 | - |
| 2+1.5 | 2 | $1,931 | - |
1 1
Walk Score®
Very Walkable (73)
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684 W 23rd St - 684 W 23rd
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