902 S Mesa St, San Pedro

Huge 4 unit property 2 blocks outside of Downtown San Pedro on 10,000 square feet of buildable land and a 26% upside to rents. Four 3 bed units, 1 with 2 baths and 3 with 1 bath averaging 1100 square feet each. Existing building is situated on one side of a huge flat 10,000 square foot corner lot with access on three sides from streets and alley. Potential for sizable new construction ADUs on this lot in addition to the existing structure. Very well priced at only $249/sq ft and 12.6X GRM on actual rents with a 26% upside to a market GRM of 10 and cap rate of 5.7% before any ADUs. One unit recently renovated and re-leased at $2350 in 2025. Separately metered for electricity and gas. Tons of space for parking.

Property Details

Units: 4
Gross Rent Multiplier: 12.62
Cap Rate: 3.9

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Price

$1,095,000

Annual Income

$86,784

Annual NOI

$43,161

Annual Expense

$39,283

Rental Cost Details

# OF UNITS	# OF BEDROOMS	# OF BATHS	ACTUAL RENT	TOTAL RENT	PRO FORMA	TOTAL PRO FORMA
1	3	2	$2,350	$2,350	$2,350	$2,350
1	3	1	$1,643	$1,643	$2,250	$2,250
1	3	1	$1,596	$1,596	$2,250	$2,250
1	3	1	$1,643	$1,643	$2,250	$2,250
TOTAL # OF UNITS	TOTAL # OF BEDROOMS	TOTAL # OF BATHS		GRAND TOTAL RENT		GRAND TOTAL PRO FORMA
4	12	5		$7,232		$9,100

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