2115 S Gaffey St - Apartments FOR SALE


San Pedro, CA 90731- Central San Pedro
$1,400,000 USD
310-867-1183
2115 S Gaffey St, San Pedro, CA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/24
null | 5.13% Cap Rate

2115 S Gaffey St
San Pedro, CA 90731
Central San Pedro


OVERVIEW

7 units total on Gaffey just South of 21st st in the Vista Del Oro neighborhood of San Pedro. The 6 unit original 1929 apartment building, all 1 bedroom-1 bathrooms includes 2,808 sqft of living space, and the new studio ADU first rented out in July of 2024 is 338 sqft. The 5,851 sqft lot spans from Gaffey to a rear alley and there are 4 single car garages with alley access. The building is well priced on current income at 11.4X GRM, with ~20% upside in rents, to a market GRM of 9.4X. The current cap rate is 5.1% with upside to 6.7%. There are two duplexes up front, with two additional units above the rear garages and ADU, for a total of 3 separate buildings. The two larger 1 bed units above the garages have harbor views. The units are separately metered for gas and electricity.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$445 USD /SF

# OF UNITS

7

PRICE/UNIT

$200,000

CAP RATE

5.13%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

LARD1.5

APN/PARCEL ID

7462-028-025

ASK ABOUT THIS PROPERTY

Josh EssBuckingham InvestmentsMore Info
310-867-1183

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Josh EssBuckingham InvestmentsMore Info
310-867-1183

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.