667 W 11th St, San Pedro, CA 90731

667 W 11th St, San Pedro, CA 90731

San Pedro, CA

Property Description

Lyon | Stahl is pleased to present 667 W 11th St, a 3-unit apartment building located in San Pedro, CA. This well-maintained property is situated on 6,751 SF of land and boasts an excellent unit mix consisting of one (1) 4-bed/2-bath and two (2) 2-bed/1-bath units for a total of 3,540 SF of living space. Located just blocks from the ocean, this property features a 3-car garage in back, a large driveway for additional parking, beautifully renovated units, and large balcony overlooking the backyard. Currently, fully leased out, this property still has the ability to increase by almost 20% in market rent potential, making it an incredible investment for an investor looking to acquire stable assets.

Investment Highlights:
<li>Well-maintained &amp; recently renovated 3-unit building</li>
<li>3,540 SF building situated on 6,751 SF of land</li>
<li>Desirable unit mix consisting of (1) 4-bed/2-bath &amp; (2) 2-bed/1-bath units</li>
<li>Operating at a 5.12% CAP &amp; 13.42 GRM | Pro Forma 6.50% CAP – 11.23 GRM</li>
<li>Features a large driveway, 3-car garage, and large balcony</li>
<li>Market rent potential to increase rents nearly 20%</li>

Property Features

  • Sale Price: $950,000
  • Area Size: 3,540 SF
  • Land Area: 6,751 SF
  • Year Built: 1922
  • Listing Date: 09/06/18
  • Closing Date: 12/15/2018
  • Units: 3
  • Current GRM: 13.42
  • Current Cap Rate: 5.12%
  • Price Per Unit: $316,666.67
  • Market GRM: 11.23
  • Market Cap Rate: 6.50%
  • Current NOI: $48,617

Lyon Stahl Investment Real Estate

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