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Multifamily

3437 S Carolina St

3437 S Carolina St, Los Angeles, CA 90731

Listing Price: $4,600,000

Cap Rate
4.22%
Number of Units
8
Price/Unit
$575,000
Price/Gross SF
$468.86
Gross SF
9,811

Investment Overview

Marcus & Millichap is pleased to present an 8-unit multifamily property located at 3427 South Carolina Street located in Long Beach, CA. Built in 1980, the subject property consists of 9,811 rentable square feet spread throughout a 12,012 square foot lot. The building consists of one studio unit, six 2-bedroom / 1-bathroom units, and one 3-bedroom / 2-bathroom unit. It contains one 1-car garage, four 2-car garages and a communal private ocean-view patio for tenant enjoyment. The units were fully renovated and re-imagined, including creative amenities such as new kitchens & bathrooms, vinyl floors, mini-split A/C, and open living areas. The layout for each unit was redesigned to maximize living space, emphasize natural light, and to accentuate modern architectural elements. Tenants enjoy living a short distance to local beaches, the Korean Bell of Friendship, as well as shopping, restaurants, and nightlife. The city of San Pedro continues to progress forward and is currently experiencing major redevelopment. The Port of Los Angeles is undergoing $3.6 million in future redevelopment that will enhance public access and provide unprecedented views of the Los Angeles waterfront. The city is undergoing a building boom in private and public investments in various stages of development. The new San Pedro Public Market development will include shopping, dining entertainment and recreation as well as development of a continuous waterfront promenade. San Pedro sustains its ability to attract renters due to its strong economy and quality of life.

Investment Highlights

  • Rare Coastal San Pedro Location with Ocean Views: Centrally located to Cabrillo Beach, West Harbor Redevelopment, & Angels Gate Park
  • True Pride of Ownership Legacy Asset: Built in 1980 and Completely Reinvented in 2020
  • Great Unit Mix of Two Bedroom and Three Bedroom Units: Separately Metered for Gas and Electricity
  • Complete Renovation Done to Current Standards: Mini-Split A/C, Modern Finishes, Vinyl Flooring, New Kitchens, & New Bathrooms
  • Amenities That All Tenants Value: Synergized Outdoor Space, Washers and Dryers in Each Unit, Brand New Appliances, and Five Private Parking Garages
  • Panoramic Ocean Views from Downtown Long Beach to Santa Catalina Island

Exclusively Listed By

Listing Price: $4,600,000

Cap Rate
4.22%
Number of Units
8
Price/Unit
$575,000
Price/Gross SF
$468.86
Gross SF
9,811

Investment Highlights

  • Rare Coastal San Pedro Location with Ocean Views: Centrally located to Cabrillo Beach, West Harbor Redevelopment, & Angels Gate Park
  • True Pride of Ownership Legacy Asset: Built in 1980 and Completely Reinvented in 2020
  • Great Unit Mix of Two Bedroom and Three Bedroom Units: Separately Metered for Gas and Electricity
  • Complete Renovation Done to Current Standards: Mini-Split A/C, Modern Finishes, Vinyl Flooring, New Kitchens, & New Bathrooms
  • Amenities That All Tenants Value: Synergized Outdoor Space, Washers and Dryers in Each Unit, Brand New Appliances, and Five Private Parking Garages
  • Panoramic Ocean Views from Downtown Long Beach to Santa Catalina Island

Investment Overview

Marcus & Millichap is pleased to present an 8-unit multifamily property located at 3427 South Carolina Street located in Long Beach, CA. Built in 1980, the subject property consists of 9,811 rentable square feet spread throughout a 12,012 square foot lot. The building consists of one studio unit, six 2-bedroom / 1-bathroom units, and one 3-bedroom / 2-bathroom unit. It contains one 1-car garage, four 2-car garages and a communal private ocean-view patio for tenant enjoyment. The units were fully renovated and re-imagined, including creative amenities such as new kitchens & bathrooms, vinyl floors, mini-split A/C, and open living areas. The layout for each unit was redesigned to maximize living space, emphasize natural light, and to accentuate modern architectural elements. Tenants enjoy living a short distance to local beaches, the Korean Bell of Friendship, as well as shopping, restaurants, and nightlife. The city of San Pedro continues to progress forward and is currently experiencing major redevelopment. The Port of Los Angeles is undergoing $3.6 million in future redevelopment that will enhance public access and provide unprecedented views of the Los Angeles waterfront. The city is undergoing a building boom in private and public investments in various stages of development. The new San Pedro Public Market development will include shopping, dining entertainment and recreation as well as development of a continuous waterfront promenade. San Pedro sustains its ability to attract renters due to its strong economy and quality of life.

Exclusively Listed By

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