Fourplex with Upside in San Pedro (Los Angeles), CA

[James Tran]

High demand rental area with current GSI of $59,184 and lots of upside! This fourplex is located blocks away from Downtown San Pedro and minutes from the Ports of Los Angeles and Long Beach. There is a lot of investment and redevelopment occurring in the area-- most notable is the $100-million Ports O' Call redevelopment project in San Pedro located blocks away, which is anticipated to further increase renter demand.

All four units are occupied and consist of 2-bedrooms/1-bathroom. Three of the four units have been completely renovated with granite counter tops, new cabinets, and laminate flooring throughout. All units have interior washer/dryer hookups and there are 10 open tandem parking spaces in the rear parking lot.  

GSI- $59,184

NOI- $40,463

GRM- 13.5

ACTUAL CAP RATE - 5.06% (based on current rent)

PRO-FORMA CAP RATE - 5.74% (based on market rents)