2115 S Gaffey ST Active Save Request In-Person Tour Request Virtual Tour
San Pedro,CA 90731
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25064344
Year Built 1929
Lot Size 5,850 Sqft
Property Sub-Type Apartment
Property Description
7 units total on Gaffey just South of 21st st in the Vista Del Oro neighborhood of San Pedro. The 6 unit original 1929 apartment building, all 1 bedroom-1 bathrooms includes 2,808 sqft of living space, and the new studio ADU first rented out in July of 2024 is 338 sqft. The 5,851 sqft lot spans from Gaffey to a rear alley and there are 4 single car garages with alley access. The building is well priced on current income at 11.4X GRM, with ~20% upside in rents, to a market GRM of 9.4X. The current cap rate is 5.1% with upside to 6.7%. There are two duplexes up front, with two additional units above the rear garages and ADU, for a total of 3 separate buildings. The two larger 1 bed units above the garages have harbor views. The units are separately metered for gas and electricity.
The property is located 1 mile from Cabrillo Beach, 1/2 mile from the Cabrillo way Marina and the $170-million West Harbor ongoing development of restaurants, shops, and brand new amphitheater. The building is also conveniently less than 2 miles from the 110 freeway offering timely access to all that the rest of Los Angeles has to offer. Per Costar 55% of the households within 5 miles are Renters, and the average household income within 5 miles is $108,000.
Location
State CA
County Los Angeles
Area 183 - Vista Del Oro
Zoning LARD1.5
Interior
Heating Heat Pump,Wall Furnace
Cooling None
Flooring Tile,Vinyl,Wood
Fireplaces Type None
Laundry None
Exterior
Parking Features Garage Faces Rear
Garage Spaces 4.0
Garage Description 4.0
Fence Block
Pool None
Community Features Water Sports
Utilities Available Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
View Y/N Yes
View Marina
Roof Type Flat
Building
Lot Description Rectangular Lot
Story 2
Foundation Raised
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Special Listing Condition Standard