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349-359 W Amar St
San Pedro, CA 90731 Central San Pedro

$1,400,000 USD

Apartments For Sale  •  3,237 SF

Property Details

  • Property Type Apartments
  • Total Building Size 3,237 SF
  • Lot Size 0.19 AC
  • Building Class C
  • Year Built 1923
  • Cap Rate 6.57 %
  • Zoning R2
46 Transit Score
71 Walk Score

Highlights

Prime Multi-Family Opportunity: Two adjacent fourplexes, each with a separate Assessor’s Parcel Number (APN).
Offering a total of eight spacious single-story one-bedroom, one-bathroom units in the vibrant San Pedro neighborhood of Los Angeles.
Expansive Land Holdings: Situated on a generous combined 8,100 square-foot lot, providing ample space for current operations and future enhancements.
Robust Financial Performance: Delivering a strong current cap rate of 6.57% and a gross rent multiplier (GRM) of 10.43.
Significant Value-Add Potential: Pro-forma projections indicate an impressive 9.57% cap rate and 7.88 GRM.
Less than one mile from the iconic Los Angeles Waterfront, the emerging West Harbor development, the scenic San Pedro Promenade, and amphitheater.

Financial Summary (Actual)

Net Operating Income: $91,949 USD (2024)
Cap Rate: 6.57 %
Total Expenses: $38,264 USD

Amenities

  • Air Conditioning
  • Gated

Public Transportation

AirportDriveWalkDistance
Long Beach (Daugherty Field) 22 min - 12.6 mi
Los Angeles International 28 min - 20.2 mi
John Wayne/Orange County 44 min - 32.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 8
Type: Surface
Included in Rent: Yes
Gianluca Jacoli 510-708-2662 Shield Commercial Real Estate
Gianluca Jacoli 510-708-2662 Shield Commercial Real Estate