3605 Stephen M White Dr - Roget Manor 16 units I 22%+ Upside | Coastal 16 Unit Apartment Building Offered at $4,796,435 CAD at a 4.91% Cap Rate San Pedro, CA 90731

Sage Real Estate is pleased to present 3605 Stephen M. White Drive, a 16-unit multifamily investment opportunity (15 legal units + 1 non-conforming studio) located directly across from Cabrillo Beach in the highly desirable Point Fermin submarket of San Pedro, CA.
Available for the first time in decades, this coastal asset offers investors a rare opportunity to acquire a well-located property with strong in-place income and significant upside potential. The property is currently operating at a 4.91% Cap Rate and 11.26 GRM, with the ability to achieve a 7.31% Cap Rate and 8.66 GRM, representing approximately 22%+ upside in rental income through a value-add strategy .
The property features a desirable unit mix, on-site parking, and select units with harbor and ocean views, creating strong tenant demand for coastal workforce housing. While the asset requires capital improvements, it presents a clear path for investors to reposition and significantly enhance cash flow and long-term value.
Strategically located near Cabrillo Beach, Point Fermin Park, the Marina, and the $500M West Harbor redevelopment, the property benefits from both immediate lifestyle appeal and long-term growth drivers. San Pedro continues to emerge as one of Los Angeles’ most dynamic coastal submarkets, driven by waterfront redevelopment, proximity to the Port of Los Angeles, and increasing demand for attainable coastal living.
This is a unique opportunity to acquire a coastal Los Angeles multifamily asset at an attractive basis with immediate upside and long-term appreciation potential.