755 W 30th St, San Pedro, CA 90731

755 W 30th St, San Pedro, CA 90731

San Pedro, CA

Property Description

Seven-unit apartment building – irreplaceable Point Fermin location in San Pedro! Many units have ocean views and the property will be delivered with two units vacant in a rent-ready condition (one-bedroom and two-bedroom). With 7 tuck-under parking spaces and 2-car garage, property has ample parking in addition to abundance of street parking. Property has an excellent unit mix of 4 two-bedroom and 3 one-bedroom units. On-site Laundry Room with landlord-owned equipment brings additional income; 2-­car garage is rented at an additional $190/mo. Note: indicated rents are as of January 1st, 2020 and two vacant units are indicated at projected market rents. Property is subject to LA City rent control and Soft Story retrofit.

Property Features

  • Sale Price: $1,600,000
  • Area Size: 5,679 SF
  • Land Area: 9,347 SF
  • Year Built: 1961
  • Closing Date: 12/11/19
  • Units: 7
  • Current GRM: 13.99
  • Current Cap Rate: 4.88%
  • Price Per Unit: $257,143
  • Market GRM: 9.97
  • Market Cap Rate: 7.67%