358 W 17th St, San Pedro
Huge 4-unit property with tons of upside only 2 blocks from the enormous brand-new LA Waterfront development. 3 out of 4 units built in 1987 with over 4500 square feet of rentable space on a 6000 square foot lot plus 4 garages. Excellent unit mix with one 3 bed/2 bath front house (1947 built) plus three 2 bed/1 bath units (1987 built) in the rear. Very well priced at only $263/sq ft and 13.38X GRM on actual rents with a true 60% upside to a market GRM of 8.37 and cap rate of 7.2%. Separately metered for electricity and gas.
Property Details
- Units: 4
- Gross Rent Multiplier: 13.38
- Cap Rate: 3.1
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$1,195,000
Annual Income
$89,328
Annual NOI
$37,039
Annual Expense
$47,822
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 3 | 2 | $2,109 | $2,109 | $3,500 | $3,500 |
| 1 | 2 | 1 | $1,959 | $1,959 | $2,650 | $2,650 |
| 1 | 2 | 1 | $2,021 | $2,021 | $2,650 | $2,650 |
| 1 | 2 | 1 | $1,355 | $1,355 | $2,650 | $2,650 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 4 | 9 | 5 | $7,444 | $11,450 |
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