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Key Details
Sold Price $980,000
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB25232251
Sold Date 12/18/25
HOA Y/N No
Year Built 1914
Property Sub-Type Apartment
Property Description
Super high yield 5 unit property for under $1M only 1 block from the huge brand new LA Waterfront development. Two large (3) bed, (2) bath units plus 3 studio units in rear in three structures total plus off street parking for 5 cars. Large front units just remodeled in 2025 and leased at market. Attractive income at an in place GRM of 9.8 and an actual cap rate of 6.2% plus a 15% upside to 8.5X GRM and 7.5% cap rate at market rents. Only $199K/door. Separately metered for electricity, gas, and trash for a low expense building.
Only 1 block from the massive 42 acre West Harbor LA Waterfront development with over a mile of waterfront access and 375,000 square feet of retail, dining, and entertainment slated to open in 2026. 3 blocks from Downtown San Pedro with art galleries, restaurants, boutiques, and other retail. Only a few blocks from Cabrillo Marina and Cabrillo Beach.
Location
State CA
County Los Angeles
Area 185 - Plaza
Interior
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Parking Features Concrete
Pool None
Community Features Suburban
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Composition
Total Parking Spaces 5
Private Pool No
Building
Lot Description Rectangular Lot
Faces South
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7456003012
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Janet D-Martinez PARTNER Real Estate
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