3605 Stephen M White San Pedro, CA 90731
0.3 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID RS26079930
HOA Y/N No
Year Built 1959
Lot Size 0.299 Acres
Property Sub-Type Apartment
Property Description
This investment is currently being offered at a 4.91% Cap Rate and 11.26 GRM, with the opportunity to achieve a 7.31% Cap Rate and 8.66 GRM through a value-add program. A new owner can capitalize on approximately 22%+ upside in income by implementing strategic unit renovations, improving management, and turning over units to market rents .
The property features a well-balanced unit mix along with on-site parking and select units that offer harbor and ocean views, creating strong tenant appeal. While the building requires capital improvements, it presents a compelling opportunity for an investor to reposition and significantly enhance the property's performance over time.
Ideally situated near Cabrillo Beach, the Marina, and the rapidly evolving $500M West Harbor redevelopment, the property benefits from both immediate lifestyle appeal and long-term growth drivers. San Pedro continues to attract renters seeking a coastal lifestyle at a more accessible price point, supported by strong employment hubs at the Port of Los Angeles and surrounding industries.
This is a unique opportunity to acquire a coastal Los Angeles asset at an attractive basis with immediate upside and long-term appreciation potential.
Location
State CA
County Los Angeles
Area 181 - Point Fermin
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 2.0
Carport Spaces 10
Garage Description 2.0
Pool None
Community Features Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View Courtyard, Ocean
Total Parking Spaces 12
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7467017001
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Trust
NEARBY SCHOOL & BUSINESS