Sold
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
Price
$1,150,000
Annual Income
$84,690
Annual NOI
$53,692
Annual Expense
$30,998
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 1 | 1 | $1,350 | $1,350 | $1,450 | $1,450 |
| 1 | 1 | 1 | $1,250 | $1,250 | $1,450 | $1,450 |
| 1 | 1 | 1 | $1,350 | $1,350 | $1,450 | $1,450 |
| 1 | 1 | 1 | $1,435 | $1,435 | $1,450 | $1,450 |
| 1 | 1 | 1 | $900 | $900 | $1,550 | $1,550 |
| 1 | 1 | 1 | $733 | $733 | $1,550 | $1,550 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 6 | 6 | 6 | $7,018 | $8,900 |
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