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$ 1,300,000
Est. payment /mo
New
2404 S Carolina ST San Pedro, CA 90731
8 Beds
4 Baths
3,672 SqFt
UPDATED:
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
Listed by John Katnik BRC Advisors- BH #02002695
NEARBY SCHOOL & BUSINESS
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