1023 W 24th St - Apartments FOR SALE


San Pedro, CA 90731- Coastal San Pedro
$1,250,000 USD
415-250-7365
1023 W 24th St, San Pedro, CA for Sale
$1,250,000 USD
Apartments - FOR SALE
1/15
null | 5.26% Cap Rate

1023 W 24th St
San Pedro, CA 90731
Coastal San Pedro


HIGHLIGHTS

  • Desirable San Pedro coastal location positioned near the rapidly revitalizing waterfront district
  • 4 Unrented Garages which translate to immediate cashflow opportunity or ADU conversion
  • Motivated sellers through a probate settlement agreement

OVERVIEW

Kingside Investment Group is proud to present 1023 W. 24th Street in San Pedro, a multifamily investment opportunity located in one of the fastest-improving coastal submarkets in Los Angeles. The property benefits from close proximity to the Port of Los Angeles, the transformative West Harbor redevelopment, and several employment hubs that continue to drive strong rental demand. Additionally, the property includes four (4) currently unrented garages that present a compelling opportunity for ADU conversion (buyer to verify) or can be leased separately to generate additional income. The property presents a compelling value-add opportunity through strategic renovations, operational efficiencies, and future rent growth potential. Tenant appeal is enhanced by more than one parking space per unit, while several units feature private exterior balconies that add lifestyle appeal and improve overall marketability. Overall, the property offers investors the opportunity to acquire a well-located multifamily asset with a combination of current income stability and meaningful upside potential. The asset is being offered by a family trust that has maintained ownership for more than 20 years and is motivated to distribute the equity, creating a rare opportunity to acquire a long-held investment property in an increasingly desirable coastal market.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$272 USD /SF

# OF UNITS

6

PRICE/UNIT

$208,333

CAP RATE

5.26%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,904 SF

ZONING

LARD2

APN/PARCEL ID

7463-009-012

ASK ABOUT THIS PROPERTY

Julian BlochKW Commercial SoCalMore Info
415-250-7365

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Julian BlochKW Commercial SoCalMore Info
415-250-7365

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