Listed by CBRE - South Bay
$1,849,000
8 units with a 5% I/O Private, Assumable Loan.
Details
APN 7459-018-008
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,940
Net Rentable (SqFt) 5,940
Units 8
Cap Rate 5.53%
NOI $102,277
Occupancy 75%
Tenancy Multi
Pro-Forma Cap Rate 6.63%
Pro-Forma NOI $122,560
Price per SqFt $311
Year Built 1930
Buildings 1
Lot Size (SqFt) 8,700
Investment Type Value Add
Charming Spanish Building Timeless Vintage Craftsmanship with Value-Add Upside
Marketing description
Classic Spanish in one of LA's oldest and tried-and-true rental markets. Beautiful ocean breezes and access to beaches, parks, Palos Verdes and one of LA's largest employers - The Port of Los Angeles. The building sits in one of San Pedro's best neighborhoods, Weymouth Corners. A pastoral, neighborhood with predominantly single family homes. This investment is perfect for a 1st Timer or investor who might want an easy addition to the portfolio. Excellent assumable loan of $1,365,000 at 5% I/O (1 year left+/-). Assume this while interest rates compress, then get a longer-term bank loan.
Investment highlights
- Lock in a loan of $1,360,000 at a below market rate of 5% I/O.
- Cool ocean breezes and access to beaches, parks, Palos Verdes and one of LA's largest employers - The Port of Los Angeles.
- Two units delivered vacant, so immediate rent upside is actionable.
- Build-quality from a bygone: hardwood, arched doorways, vintage tile, clawfoot iron tubs etc.
- The building sits in one of San Pedro's best neighborhoods, Weymouth Corners. A pastoral, neighborhood with predominantly single family homes.
Listing Contacts
Listed by CBRE - South Bay
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$102,277.00
$8,523.08/mo
Valuation Metrics
0
DSCR
5.53%
Cap Rate
5.53%
ROI
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