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2115 S Gaffey St, San Pedro

  • Well-located 6 unit property for under $1.2M
  • Excellent Vista Del Oro location only blocks to the beach, Cabrillo Marina, and Downtown San Pedro
  • Close proximity to massive 400 acre $150 Million+ LA Waterfront Redevelopment
  • 27% upside in rents*
  • Strong actual income at 13.2X gross and 4.7% cap rate with an upside to 10.3X gross and 6.5% cap rate on market rents
  • 2 out of 6 units recently updated
  • 2 larger units have harbor views
  • Ample parking with 4 enclosed garages plus a bonus storage space for additional income
  • Qualifies for excellent financing at 70% LTV and 3.5% interest rate
  • Low maintenance building with separately metered gas and electric, minimal landscaping
  • Well-maintained, professionally managed property

*Property is subject to City of Los Angeles Rent Stabilization Ordinance

Property Details

  • Units: 6
  • Gross Rent Multiplier: 13.19
  • Cap Rate: 4.7%
Contact Listing Agent

Price

$1,150,000

Annual Income

$84,690

Annual NOI

$53,692

Annual Expense

$30,998

Rental Cost Details

# OF UNITS# OF BEDROOMS# OF BATHSACTUAL RENTTOTAL RENTPRO FORMATOTAL PRO FORMA
111$1,350$1,350$1,450$1,450
111$1,250$1,250$1,450$1,450
111$1,350$1,350$1,450$1,450
111$1,435$1,435$1,450$1,450
111$900$900$1,550$1,550
111$733$733$1,550$1,550
TOTAL # OF UNITSTOTAL # OF BEDROOMSTOTAL # OF BATHSGRAND TOTAL RENTGRAND TOTAL PRO FORMA
666$7,018$8,900

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