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Listed by Josh Cohen • Keller Williams South Bay
$2,500,000
Est. payment /mo
12,678 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 12,678 sqft
Price per Sqft $197
MLS Listing ID CRSB25067550
HOA Y/N No
Year Built 1929
Lot Size 6,876 Sqft
Property Sub-Type Other
Source Datashare California Regional
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
Interior
Fireplace No
Laundry Other
Building
Lot Description Other
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