2115 S Gaffey Street, San Pedro, CA 90731

About this property

Back on Market! 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. 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 27% upside in rents (subject to city of Los Angeles Rent Stabilization Ordinance).

Listing description from the April 2020 sale, as reported to CRMLS.

Sale history

$1,125,000

Sold April 2020 · listed $1,150,000, on market January 2020 · MLS #SB20002944 · Source: CRMLS

Listing Agent: Anthony Walker · Listing Office: Buckingham Investments, Inc · Contact: 310 982-7055 · Bought with: Josh Ess · Buckingham Investments, Inc

$825,000

Sold October 2014 · listed $849,000, on market July 2014 · MLS #PW14146711 · Source: CRMLS

Listing Agent: Steve Gamez · Listing Office: P.R.S. Properties · Contact: 562-439-0566 · Bought with: Anthony Walker · Buckingham Investments, Inc.

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