1224 S Mesa St
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1224 S Mesa St
5 Unit Apartment Building $895,000 ($179,000/Unit) 5.28% Cap Rate San Pedro, CA 90731
Investment Highlights
- 3 Blocks From Ports O’ Call
- 10.62% Proforma CAP RATE
- 6.78 Proforma GRM
- Low PPU and PPFT
Executive Summary
We are pleased to present our newest exclusive listing in San Pedro. This 5-unit multifamily property is located only 3 blocks away from Ports O’ Call Village and minutes from the Cabrillo Marina. The property boasts spacious units comprised of three 1 bedroom/1 bathroom and two 2 bedroom/1 bathroom units. The property has been well taken care of over the years and boasts a 5.28% CAP RATE on current income with a 10.62% proforma cap rate. Additionally, the property has an estimated 65% upside in rents. The property is individually metered for gas and electric and all units have washer/dryer hookups. The property is mainly copper plumbing and has individual water heaters. There are three garages in the rear that can used for additional income or potentially converted into an ADU. For more information, please reach out to the listing agents.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $895,000 | Apartment Style | Low Rise |
| Price Per Unit | $179,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.28% | Building Size | 3,559 SF |
| Gross Rent Multiplier | 11.17 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1922/1960 |
| Property Type | Multifamily | Parking Ratio | 0.84/1,000 SF |
| Property Subtype | Apartment |
| Price | $895,000 |
| Price Per Unit | $179,000 |
| Sale Type | Investment |
| Cap Rate | 5.28% |
| Gross Rent Multiplier | 11.17 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,559 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1922/1960 |
| Parking Ratio | 0.84/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,780 | 712 |
| 1+1 | 3 | $1,760 | 712 |
1 of 1
Walk Score ®
Walker's Paradise (90)
Bike Score ®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 7456-009-025 | Total Assessment | $801,232 |
| Land Assessment | $525,399 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $275,833 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
7456-009-025
Land Assessment
$525,399
Improvements Assessment
$275,833
Total Assessment
$801,232
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | RD1.5, Los Angeles |
| RD1.5, Los Angeles |
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1224 S Mesa St
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