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Rachell Lara

rachell@laraandco.com +1(619) 316-7445

$ 1,300,000

Est. payment | -/mo

8 Beds

4 Baths

3,672 SqFt

Save

$ 1,300,000

Est. payment | -/mo

Save

8 Beds

4 Baths

3,672 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 3,672 sqft

Price per Sqft $354

MLS Listing ID 26870919

Bedrooms 8

Construction Status Updated/Remodeled,Repairs Major

HOA Y/N No

Year Built 1957

Lot Size 6,094 Sqft

Property Description

We are pleased to present the exclusive offering of 2404 S Carolina St, a well-maintained coastal multifamily investment located in the desirable San Pedro submarket. This exceptional asset represents an attractive opportunity to acquire a 4-unit apartment community in one of Southern California's established coastal rental markets. Originally constructed in 1957, the property consists of approximately 3,672 rentable square feet situated on a 6,092 square foot lot. Residents enjoy ocean views from the property, further enhancing its desirability and tenant appeal. Ideally situated in the Point Fermin neighborhood, the property is near the San Pedro waterfront, Cabrillo Beach, Point Fermin, West Harbor, and a variety of restaurants, retail, and entertainment destinations, offering residents a desirable coastal lifestyle with convenient access to the broader South Bay and Los Angeles markets. Additional amenities include in-unit washers and dryers, four covered parking spaces, and a shared outdoor patio. The property has also benefited from significant recent capital improvements, including a completely repaired foundation, new PEX plumbing throughout the building, five new electrical panels, new exterior paint, and extended gutters. Both upstairs units have been fully renovated, providing a strong foundation for continued property performance. The property is currently operating at a 6.23% capitalization rate and an 11.63 GRM, offering investors an attractive combination of current cash flow and future upside. Additional value-add potential can be realized through renovations to the downstairs units and strategic rent increases, allowing a new owner to enhance rental income and overall property performance. Potential ADU development may provide additional upside, subject to applicable zoning and permitting requirements. Buyer to verify all ADU development potential, requirements, and feasibility. Offered at $1,300,000, 2404 S Carolina St provides investors with an opportunity to acquire a well-maintained coastal multifamily asset at an attractive basis, with a combination of current income, recent capital improvements, and future value-add potential. The property's desirable San Pedro location, ocean views, parking, in-unit laundry, and proximity to ongoing waterfront revitalization position it as an attractive investment opportunity with potential for long-term income growth and appreciation.

Location

State CA

County Los Angeles

Area 181 - Point Fermin

Zoning LARD1.5

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Appliance Dishwasher, Microwave, Refrigerator, Dryer, Washer

Laundry Stacked

Exterior

Parking Features Covered, Detached Carport, Driveway

View Y/N Yes

View Coastline, Ocean

Porch Open, Patio

Total Parking Spaces 4

Building

Faces West

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled,Repairs Major

Others

Senior Community No

Tax ID 7465010031

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by John Katnik BRC Advisors- BH #02002695

NEARBY SCHOOL & BUSINESS

+1(619) 316-7445

rachell@laraandco.com

1420 Kettner Blvd. # 100, Diego, CA 92101, USA

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San Diego Cities & Communities

2404 S Carolina ST San Pedro, CA 90731