805-807 S Centre St, San Pedro, CA 90731

805-807 S Centre St, San Pedro, CA 90731

San Pedro, CA

Property Description

Beautiful 8-Unit asset located in the heart of San Pedro at 805-807 S Centre
St. Offered at $1.4M, new buyers can take advantage of this Value-Add
property offering strong current income, as well as a fantastic return on
pro-forma numbers. One Studio Unit will be delivered vacant, offering
immediate upside! The property is currently operating above a 4% Current
CAP, with room to grow the rental income above a 6% CAP.

805-807 S Centre St features a mix of (5) 1-Bd/1-Ba & (3) Studio units, offered
at $175K/Door. These units feature high ceilings, wood and tile flooring, as
well as new countertops in some units, laundry on site and controlled access
gating. There is plenty of street parking for each tenant and also a (2) car
garage, currently functioning as storage for tenants. Still a sufficient amount
of upside to grow the market rental income!

The subject property is located just two blocks from Downtown San Pedro, an
area with an ample amount of quality restaurants, shops and nightlife. There
are Millions of $ worth of new developments in close proximity to the property
such as the San Pedro Waterfront Promenade, and brand new apartment

Property Features

  • Sale Price: $1,400,000
  • Area Size: 3,340 SF
  • Land Area: 4,500 SF
  • Year Built: 1906
  • Listing Date: 2/17/2021
  • Units: 8
  • Current GRM: 12.64
  • Current Cap Rate: 4.27%
  • Market GRM: 9.95
  • Market Cap Rate: 6.35%