Multifamily

647 W 5th St

647 W 5th St, Los Angeles, CA 90731

Listing Price: $1,600,000

Cap Rate
4.07%
Number of Units
8
Price/Unit
$200,000
Price/Gross SF
$264.73
Gross SF
6,044

Investment Overview

Marcus & Millichap is pleased to present to market 647 West 5th Street, an eight-unit apartment building in San Pedro, California. The property is located near the intersection of Gaffey Street and 5th Street down the block from a Starbucks, a Rite Aid, and several restaurants. The property’s proximity to retail has earned it a WalkScore of 89. Additionally, the building is four blocks from a new luxury 301-unit apartment building and less than a mile from the West Harbor (formerly known as San Pedro Public Market) development site. 647 West 5th Street is a 1918 construction with eight one-bedroom/one-bath units that are separately metered for gas and electricity. The building also offers on-site laundry and an underutilized back patio. This offering presents a great opportunity for an investor to acquire an asset in a dense, redeveloping rental market and capture over 20 percent rental upside.

Investment Highlights

  • Value-Add Opportunity With Over 20 Percent Rental Upside
  • Well-Maintained 1918 Construction With Eight One-Bedroom Units
  • Property Offers On-Site Laundry and an Underutilized Back Patio
  • Separately Metered for Gas and Electricity
  • Located Less Than a Block From a Starbucks and a Rite Aid and Four Blocks From a New Luxury 301-Unit Apartment Building

Exclusively Listed By

Listing Price: $1,600,000

Cap Rate
4.07%
Number of Units
8
Price/Unit
$200,000
Price/Gross SF
$264.73
Gross SF
6,044

Investment Highlights

  • Value-Add Opportunity With Over 20 Percent Rental Upside
  • Well-Maintained 1918 Construction With Eight One-Bedroom Units
  • Property Offers On-Site Laundry and an Underutilized Back Patio
  • Separately Metered for Gas and Electricity
  • Located Less Than a Block From a Starbucks and a Rite Aid and Four Blocks From a New Luxury 301-Unit Apartment Building

Investment Overview

Marcus & Millichap is pleased to present to market 647 West 5th Street, an eight-unit apartment building in San Pedro, California. The property is located near the intersection of Gaffey Street and 5th Street down the block from a Starbucks, a Rite Aid, and several restaurants. The property’s proximity to retail has earned it a WalkScore of 89. Additionally, the building is four blocks from a new luxury 301-unit apartment building and less than a mile from the West Harbor (formerly known as San Pedro Public Market) development site. 647 West 5th Street is a 1918 construction with eight one-bedroom/one-bath units that are separately metered for gas and electricity. The building also offers on-site laundry and an underutilized back patio. This offering presents a great opportunity for an investor to acquire an asset in a dense, redeveloping rental market and capture over 20 percent rental upside.

Exclusively Listed By

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