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Multifamily

1244 W 9th St

1244 W 9th St, SanPedro, CA 90731

Listing Price: $2,199,000

Cap Rate
4.15%
Number of Units
8
Price/Unit
$274,875
Price/Gross SF
$276.64
Gross SF
7,949

Investment Overview

Expansive ocean views. First time on the market in over four decades. 8 large VIEW units ‘up the hill’ in San Pedro, near Palos Verdes. San Pedro’s most desirable submarket, for investors AND renters. Lovingly owned and managed by one family. The subject property has been well-maintained by long-term, local ownership and management– newer roof, 100 gallon hot water heater and copper plumbing. The building has an ideal unit mix of four 1s and four 2s and an average unit size of over 900 square feet. Large, on-grade parking structure affording tenants 2 tandem spaces, each. OVER 35% unrealized upside in rent. An investor can realize some immediate upside by rehabbing and renting unit #3, a 2 Bed/ 1 Bath, which will be delivered vacant at close of escrow. A sound investment option in a prime submarket of San Pedro.

Investment Highlights

  • 8 units "with a view" up the hill near PV
  • San Pedro's Best Submarket
  • Massive 35% Upside in Rent
  • Units Average Over 900 Square Feet
  • Newer Roof and 100-Gallon Water Heater

Exclusively Listed By

Listing Price: $2,199,000

Cap Rate
4.15%
Number of Units
8
Price/Unit
$274,875
Price/Gross SF
$276.64
Gross SF
7,949

Investment Highlights

  • 8 units "with a view" up the hill near PV
  • San Pedro's Best Submarket
  • Massive 35% Upside in Rent
  • Units Average Over 900 Square Feet
  • Newer Roof and 100-Gallon Water Heater

Investment Overview

Expansive ocean views. First time on the market in over four decades. 8 large VIEW units ‘up the hill’ in San Pedro, near Palos Verdes. San Pedro’s most desirable submarket, for investors AND renters. Lovingly owned and managed by one family. The subject property has been well-maintained by long-term, local ownership and management– newer roof, 100 gallon hot water heater and copper plumbing. The building has an ideal unit mix of four 1s and four 2s and an average unit size of over 900 square feet. Large, on-grade parking structure affording tenants 2 tandem spaces, each. OVER 35% unrealized upside in rent. An investor can realize some immediate upside by rehabbing and renting unit #3, a 2 Bed/ 1 Bath, which will be delivered vacant at close of escrow. A sound investment option in a prime submarket of San Pedro.

Exclusively Listed By

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