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1224 S Mesa St 5 Unit Apartment Building $1,075,000 ($215,000/Unit) 5.30% Cap Rate San Pedro, CA 90731
EXECUTIVE SUMMARY
Seller Financing Available: $716,000 at 5.5% Interest-Only, Fixed for 9 Years. No assumption fee or prepayment penalty, providing a rare and flexible financing structure for investors. Pleased to present an exclusive 5-unit multifamily opportunity in the heart of San Pedro, just three blocks from Ports O’ Call Village and minutes from Cabrillo Marina. The property consists of (2) 2 Bed / 1 Bath and (3) 1 Bed / 1 Bath units. Each unit is individually metered for gas and electricity and features washer/dryer hookups, copper plumbing, and individual water heaters. Kitchens and bathrooms are finished with tile flooring and showers, while the two upstairs units enjoy a harbor-facing balcony and a carpeted entry staircase. Three garages are located at the rear of the property (3x rented at $175 each), providing additional income potential or the option for ADU conversion. Well maintained and located in a residential neighborhood, the property offers strong cash flow with.
PROPERTY FACTS
| Price | $1,075,000 | Property Subtype | Apartment |
| Price Per Unit | $215,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.30% | Lot Size | 0.12 AC |
| Sale Condition | 1031 Exchange | Building Size | 3,559 SF |
| Gross Rent Multiplier | 11.87 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1922/1960 |
| Property Type | Multifamily | Parking Ratio | 0.84/1,000 SF |
| Zoning | RD1.5 - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations | ||
| Price | $1,075,000 |
| Price Per Unit | $215,000 |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 11.87 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,559 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1922/1960 |
| Parking Ratio | 0.84/1,000 SF |
| Zoning | RD1.5 - Restricted Density Multiple Dwelling One-Family Dwellings, Two-Family Dwellings, Apartment Houses, Multiple Dwellings, Home Occupations |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Kitchen
- Sprinkler System
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 2 | - | - |
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Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 7456-009-025 | Improvements Assessment | $345,000 |
| Land Assessment | $550,000 | Total Assessment | $895,000 |
PROPERTY TAXES
Parcel Number
7456-009-025
Land Assessment
$550,000
Improvements Assessment
$345,000
Total Assessment
$895,000
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1224 S Mesa St
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