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$ 3,500,000
Est. payment /mo
New
3605 Stephen M White San Pedro, CA 90731
3 Beds
3 Baths
0.3 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID RS26079930
Bedrooms 3
Lot Size 0.299 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
Located in the highly desirable Point Fermin coastal neighborhood of San Pedro, 3605 Stephen M. White Drive is a 16-unit multifamily property (15 legal units + 1 non-conforming studio) offering a rare opportunity to acquire a true coastal asset directly across from Cabrillo Beach. Available for the first time in decades, this generational offering presents investors with a unique chance to secure a well-located property in a tightly held submarket. This investment is currently being offered at a 4.91% Cap Rate and 11.26 GRM, with the opportunity to achieve a 7.31% Cap Rate and 8.66 GRM through a value-add program. A new owner can capitalize on approximately 22%+ upside in income by implementing strategic unit renovations, improving management, and turning over units to market rents . The property features a well-balanced unit mix along with on-site parking and select units that offer harbor and ocean views, creating strong tenant appeal. While the building requires capital improvements, it presents a compelling opportunity for an investor to reposition and significantly enhance the propertys performance over time. Ideally situated near Cabrillo Beach, the Marina, and the rapidly evolving $500M West Harbor redevelopment, the property benefits from both immediate lifestyle appeal and long-term growth drivers. San Pedro continues to attract renters seeking a coastal lifestyle at a more accessible price point, supported by strong employment hubs at the Port of Los Angeles and surrounding industries. This is a unique opportunity to acquire a coastal Los Angeles asset at an attra
Location
State CA
County Los Angeles
Zoning Assessor
Direction 110 South exit Gaffey St turn left, left on 34th st, Right on Pacific Ave, Left on Stephen M White Drive.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7467017001
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Jignesh Patel, DRE#01941349 Sage Real Estate Group Inc