674 W 27th St, San Pedro, CA 90731

Property Description

We are pleased to present a beautiful, remodeled apartment located in San Pedro, California. The building is perched above San Pedro Harbor on a quiet cul-de-sac with panoramic ocean and harbor beach views. Almost all units have panoramic ocean/ harbor/beach views with balconies, private yards with new artificial grass, new vinyl fencing, new decks, private patios, new wood floors, new granite kitchen and baths. The property is located just blocks from the Beach, Alta Sea, Ports O’ Call Village and minutes away from the 110 freeway.
 
 Built in 1965, the subject property consist of 15,568 rent-able square feet on a lot size of 13,409 square feet. The unit mix consists of (14) two-bedroom / one-bathroom units, (1) three-bedroom / two-bathroom penthouse, (1) two-bedroom / two-bathroom townhouse and (1) large non-conforming studio / one-bathroom unit. There is an on-site laundry for tenants’ convenience. The subject property is separately metered for gas and electricity keeping expenses to a minimum.
 
 This is a rare opportunity to acquire a turn key asset in San Pedro's strongest rental market. With a current yield in the 4% range and room to push rents, this an exceptional opportunity in a city experiencing significant regentrification in the water front area. San Pedro is located on the southern end of the Palos Verdes Peninsula.