2211 S Grand Ave, San Pedro, CA 90731

Property Description

The Fourplex is a two-story wood frame & stucco 4,096 sf building on a 4501 sf lot built in 1970. The 4 units unit mix is a 1 3 bed 1.5 bath (upstairs Rear) , 2 2/1 units (stacked 1 upstairs/1 downstairs) and a 1 bedroom on the first floor as well as 2 double car garages with ample storage for 4 cars with automatic entry. There is also coin laundry on the second floor next to the central hot water heater. 22nd Street & Grand Avenue is 1 block away from Gaffey Street and several blocks (short bike ride or walk) to 22nd Street Landing and the water. Views from second floor unit and proximity to many of the port of LA/Long Beach employers like Longshore and logistics along with all of the south bay job market is the attraction to this Historical & affordable coastal community town. Just a few blocks from 25th street artery connecting to RPV/PVE & Rolling Hills and Trump GC and Terranea resorts. It is a beautiful sunset scenic drive/walk/run to the west side beach areas too. At a 4.6% cap & 20% upside in rents, it is a possibility of over 5.9% cap rate when you achieve market rents. Priced at 12.49 GRM and at market rents 10.4 grm and offered at only $256 a foot, this is one of the best deals available on the market. Professional Mgmt will stay on to keep up good performance. The positive cash low with ability to lock in a 30 year fixed rate loan should be attractive to a new investor or owner user or even a sophisticated one adding a great property to their portfolio.