3621 S Pacific Avenue, San Pedro, CA 90731 - MLS#SB25067550

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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,500,000

Est. payment | -/mo

1 Bed

2 Baths

Save

$ 2,500,000

Est. payment | -/mo

Save

1 Bed

2 Baths

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Pending

Purchase Type For Sale

MLS Listing ID SB25067550

Bedrooms 1

Property Sub-Type Res Income 2-4 Units

Property Description

Price just reduced $250,000! Located in the charming Point Fermin/Palisades neighborhood of San Pedro, 3621 South Pacific is an 4-story, 18 unit multifamily property available for sale for the first time in nearly 23 years! This investment opportunity is being offered at a 6.27% Cap Rate and 8.56 GRM at an enticing cost per unit of only $138,889 (after May increases). A new owner has the ability to step into an already cashflowing asset with further upside potential of approximately 22%! The property features a unit mix of (6) one bedroom units and (12) studio units, several of which have large, forward facing windows with terrific views of the pacific ocean. Current ownership has always been attentive with staying ahead of capex work and the building is in good shape. The building is close to Cabrillo Beach, the Marina, as well as the brand new West Harbor redevelopment! The immediate area is filled with many terrific retail and entertainment options as well as basic amenities for tenants to take advantage of. San Pedro is known for it's small-town atmosphere and many family-owned businesses, with unique architecture, shops, hotels, restaurants, art galleries, studios, theaters, entertainment and more!

Location

State CA

County Los Angeles

Zoning Public Rec

Direction On Pacific Ave

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 4

Level or Stories 4

Others

Tax ID 7467015016

Listed by Josh Cohen Keller Williams South Bay

+1(619) 302-3010

matt@homecrave.com

San Diego, CA, 92124

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3621 S Pacific Avenue San Pedro, CA 90731