580 W 22nd St 4 Unit Apartment Building $1,245,232 CAD ($311,308 CAD/Unit) 5.15% Cap Rate San Pedro, CA 90731

INVESTMENT OPPORTUNITY IN SAN PEDRO! Welcome to 580 W. 22nd Street, a fully occupied 4-unit apartment building prominently situated on a corner lot at W. 22nd Street and Grand Avenue. This income-producing property provides an opportunity for investors seeking an established multifamily asset with existing tenants and immediate rental income with upside potential. The property consists of four 1-bedroom, 1-bath units within approximately 2,912 SF of building area on a 5,401 SF lot with oversized parking lot. All four units are currently occupied and the property is being sold with the existing tenants in place. The building features separately metered gas and electricity, helping simplify utility management, along with tandem off-street parking. Located in San Pedro's Point Fermin area, the property offers convenient access to the waterfront, harbor, marina, shopping, dining and major transportation routes. The corner-lot configuration and established four-unit use make this an attractive opportunity for a long-term multifamily investor looking to add a South Bay/Harbor Area income property to their portfolio.100% Occupied • 4 Units • Corner Lot • Oversized Parking Lot with Tandem Parking for 8 Vehicles • Future Upside on Monthly Rental Income • Separately Metered Gas & Electric.
Highlights: $899,000 Price | $86,400 Pro Forma Income | $66,763 Pro Forma NOI | 7.43% Pro Forma Cap Rate | 10.41 GRM
Details:
Purchase/List Price: $899,000
Pro Forma Gross Income: $86,400/year
Operating Expenses: $19,637/year
Pro Forma NOI: $86,400 - $19,637 = $66,763
Investment Metrics
Pro Forma Cap Rate:
$66,763 ÷ $899,000 = 7.43%
Gross Rent Multiplier (GRM):
$899,000 ÷ $86,400 = 10.41