376 Sepulveda St, San Pedro, CA 90731
12 Unit Apartment Building | $1,600,000 ($133,333/Unit) | 5.20% Cap Rate | San Pedro, CA 90731
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,600,000
- Property Type
-
Multifamily
- Square Feet
- 4,871 SF
Listing Contacts
Jonathan Nikfarjam
Verified Profile
Allen Gholian
Verified Profile
- Property Info
Property Overview
ASSET
Twelve single-story units on a large 10,814-SF corner lot.
The property is comprised of six detached bungalows with a total of (twelve) 1-bedroom/1-bathroom units.
The large lot presents the desirable opportunity to re-develop the property in the future.
LOCATION
376 W. Sepulveda Street is located less than 1 mile from the L.A. Waterfront and the upcoming West Harbor development and San Pedro Promenade which will include restaurants, shopping, markets, office space, public open space, a waterfront pedestrian promenade, and a 6,200-seat amphitheater for live entertainment.
The property is also located a half-mile from the World Cruise Center, Battleship USS Iowa Museum, the Los Angeles Maritime Museum, and the Port of Los Angeles which is a major employment center for L.A. County and has been ranked as the number 1 container port in the Western Hemisphere for 24 consecutive years.
FINANCIALS
Offered at an 11.07% pro-forma cap rate and 6.97 pro-forma GRM, 376 W. Sepulveda Street has rents which are +/- 73% below market. The property is being offered at $133,333 per unit. The asset also contains stable-in place rents with a 5.20% current cap rate and 12.03 current GRM.
Twelve single-story units on a large 10,814-SF corner lot.
The property is comprised of six detached bungalows with a total of (twelve) 1-bedroom/1-bathroom units.
The large lot presents the desirable opportunity to re-develop the property in the future.
LOCATION
376 W. Sepulveda Street is located less than 1 mile from the L.A. Waterfront and the upcoming West Harbor development and San Pedro Promenade which will include restaurants, shopping, markets, office space, public open space, a waterfront pedestrian promenade, and a 6,200-seat amphitheater for live entertainment.
The property is also located a half-mile from the World Cruise Center, Battleship USS Iowa Museum, the Los Angeles Maritime Museum, and the Port of Los Angeles which is a major employment center for L.A. County and has been ranked as the number 1 container port in the Western Hemisphere for 24 consecutive years.
FINANCIALS
Offered at an 11.07% pro-forma cap rate and 6.97 pro-forma GRM, 376 W. Sepulveda Street has rents which are +/- 73% below market. The property is being offered at $133,333 per unit. The asset also contains stable-in place rents with a 5.20% current cap rate and 12.03 current GRM.
Property Details
- Class
- C
- Year Built
- 1918
- Stories
- 1
- Lot Size (sq. ft)
- 10,890 SF
- Units
- 12
Highlights
- Twelve Single-Story Units | Large 10,814-SF Corner Lot | Offered at $133,333 Per Unit
- 11.07% Pro-Forma Cap Rate & 6.97 Pro-Forma GRM | 5.20% Current Cap Rate & 12.03 Current GRM
- Located Less Than 1 Mile from L.A. Waterfront and Upcoming West Harbor Development, San Pedro Promenade & Future 6,200-Seat Waterfront Amphitheater
- Half-Mile to World Cruise Center, Battleship USS Iowa Museum, the Los Angeles Maritime Museum & Port of Los Angeles
- Six Detached Bungalows – Totaling (Twelve) 1-Bedroom/1-Bathroom Units | Tremendous Value-Add Opportunity | Approximately 73% in Rental Upside
- Large Lot Presents Future Development Potential
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