1129 W 10th St, San Pedro
Huge 8 unit campus property in one of the best parts of San Pedro at only 11.5X GRM plus a 25% upside. Great unit mix with four 2 bed units, two 1 bed units, one 3 bed, 3 bath unit, and one studio. Almost 7000 square feet of rentable space situated on over 8200 square feet of land. Large duplex structure built in 1923 plus 6 units built in 1962. 5 out of 8 units nicely remodeled from 2021 to present. 3 enclosed garages, 4 tuck under parking spaces, and 1 surface parking space for a 1:1 parking ratio. Soft story retrofit completed in 2020. Well priced on income at 11.5X GRM on actuals plus a 25% upside to 9.3X GRM and a market cap rate of 7%. Beautiful Vista Del Oro location only a few blocks from Palos Verdes in a tranquil residential area. Attractive curb appeal with street and alley access. Only 3 blocks from Providence Little Company of Mary San Pedro Hospital. Easy access to Downtown San Pedro and 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.
Property Details
- Units: 8
- Gross Rent Multiplier: 11.56
- Cap Rate: 5.1
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$2,195,000
Annual Income
$189,540
Annual NOI
$112,157
Annual Expense
$68,206
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 3 | 3 | $2,758 | $2,758 | $3,700 | $3,700 |
| 1 | 0 | 1 | $1,037 | $1,037 | $1,600 | $1,600 |
| 1 | 2 | 1 | $1,941 | $1,941 | $2,500 | $2,500 |
| 1 | 1 | 1 | $1,795 | $1,795 | $1,800 | $1,800 |
| 1 | 1 | 1 | $1,003 | $1,003 | $1,800 | $1,800 |
| 1 | 2 | 1 | $2,467 | $2,467 | $2,500 | $2,500 |
| 1 | 2 | 1 | $2,495 | $2,495 | $2,600 | $2,600 |
| 1 | 2 | 1 | $2,299 | $2,299 | $2,500 | $2,500 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 8 | 13 | 10 | $15,795 | $19,000 |
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