Investment Overview

Marcus & Millichap is pleased to present to market 1232 North Park Western Drive, a fourplex with a sought-after unit mix in San Pedro, California. This offering presents new investor the exciting opportunity to rehabilitate and reposition the asset, which has some deferred maintenance, to substantially increase rental income and add value: two of the units will be delivered vacant, and current rents of the remaining two units offer 16 percent rental upside. 1232 North Park Western Drive is a two-story fourplex with a mix of one three-bed/two-bath and three two-bed/one-bath units. The units boast spacious floor plans and in-unit laundry hookups. The property also features ample surface parking in front and an underutilized private backyard. The property is located near the northern bounds of San Pedro on an attractive, quiet residential street near a Target, Harbor Highlands Park, and Park Western Elementary. The average household income within one mile exceeds $124,000. San Pedro is a strong coastal rental submarket that has seen billions of dollars of private and public investment in numerous development projects in recent years.