2115 S Gaffey, San Pedro 90731
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Well-located 6 unit property for under $1.2M
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Excellent Vista Del Oro location only blocks to the beach, Cabrillo Marina, and Downtown San Pedro
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Close proximity to massive 400 acre $150 Million+ LA Waterfront Redevelopment
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27% upside in rents*
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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
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2 out of 6 units recently updated
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2 larger units have harbor views
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Ample parking with 4 enclosed garages plus a bonus storage space for additional income
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Qualifies for excellent financing at 70% LTV and 3.5% interest rate
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Low maintenance building with separately metered gas and electric, minimal landscaping
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Well-maintained, professionally managed property
*Property is subject to City of Los Angeles Rent Stabilization Ordinance
sold
PRICE
$1,150,000
ANNUAL INCOME
$84,690
ANNUAL NOI
$53,692
ANNUAL EXPENSE
$30,998
Rental Cost Details
| # OF UNITS | # OF BEDROOMS | # OF BATHS | ACTUAL RENT | TOTAL RENT | PRO FORMA | TOTAL PRO FORMA |
| 1 | 1 | 1 | $1,350 | $1,350 | $1,450 | $1,450 |
| 1 | 1 | 1 | $1,250 | $1,250 | $1,450 | $1,450 |
| 1 | 1 | 1 | $1,350 | $1,350 | $1,450 | $1,450 |
| 1 | 1 | 1 | $1,435 | $1,435 | $1,450 | $1,450 |
| 1 | 1 | 1 | $900 | $900 | $1,550 | $1,550 |
| 1 | 1 | 1 | $733 | $733 | $1,550 | $1,550 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 6 | 6 | 6 | $7,018 | $8,900 |
