240 W Oliver St, San Pedro, CA 90731
San Pedro, CA$780,000
Property Description
Excellent Value Add Opportunity with over 40% upside in rental income – Market GRM is 8.1 and Cap Rate is 9.1% – Located blocks away from LA Waterfront – Walking distance to Barton Hill Elementary School – Desirable Unit Mix of all 1 Bedroom units – All units are due for annual 4% rent increase – Each unit comes equipped with laundry hook-ups for tenants’ convenience – Tenants pay are responsible for all except DWP utilities; Low operating costs for Landlord
Property Features
- Sale Price: $780,000
- Area Size: 2,464 SF
- Land Area: 5,000 SF
- Year Built: 1923
- Listing Date: 6/30/2020
- Closing Date: 9/30/2020
- Units: 5
- Current GRM: 15.22
- Current Cap Rate: 3.66%
- Price Per Unit: $170,000
- Market GRM: 8.10
- Market Cap Rate: 9.16%
- Current NOI: $31,113
