24
See all 24 photos
$1,400,000
Est. payment /mo
5,851 Sqft Lot
New
2115 S Gaffey ST San Pedro, CA 90731
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB25064344
Style Bungalow
Originating Board California Regional MLS
Year Built 1929
Lot Size 5,851 Sqft
Property Description
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. The property is located 1 mile from Cabrillo Beach, 1/2 mile from the Cabrillo way Marina and the $170-million West Harbor ongoing development of restaurants, shops, and brand new amphitheater. The building is also conveniently less than 2 miles from the 110 freeway offering timely access to all that the rest of Los Angeles has to offer. Per Costar 55% of the households within 5 miles are Renters, and the average household income within 5 miles is $108,000.
Location
State CA
County Los Angeles
Area 183 - Vista Del Oro
Rooms
Kitchen Oven Range - Gas, Oven - Gas
Interior
Heating Heat Pump, Wall Furnace
Cooling None
Laundry None
Exterior
Parking Features Garage
Garage Spaces 4.0
Pool 31, None
View Marina
Roof Type Flat / Low Pitch
Building
Foundation Raised
Water District - Public
Architectural Style Bungalow
Others
Tax ID 7462028025
Special Listing Condition Not Applicable
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Listed by Josh Ess • Buckingham Investments, Inc