904 S Centre St

01-14-2022
01-14-2022

904 S Centre St, Los Angeles, CA 90731

  • Immaculate Single Room Occupancy 11 Unit Asset located in the heart of San Pedro
  • All units have been renovated including floors, appliances, countertops and cabinets
  • Offered at only $95k/Unit!
  • Currently operating at a 5.09% CAP and 10.66 GRM with room to grow to 7.64% Market CAP and 8.33 MarketGRM

Property Description

Immaculate 11-Unit Single Room Occupancy asset located in the heart
of San Pedro at 904 S Centre St. Offered at only $1.045M, new buyers
can take advantage of this Value-Add property offering strong current
income, as well as fantastic pro-forma numbers. The property is
currently operating at 5.09% CAP, with room to grow the CAP to 7.64%.
Over 20% available in monthly rental income!
904 S Centre St features a unit mix of (11) Single Room Occupancy
units, offered at only $95k/Unit. These units have been upgraded including
its floors, paint, countertops and appliances. There is also a
laundry room on site for all tenants.
The subject property is located just steps from Downtown San Pedro, an
area with an ample amount of quality restaurants, shops and nightlife.
There are Millions of $ worth of new developments in close proximity to
the property such as the San Pedro Waterfront Promenade, as well as
brand new apartment buildings, condos and retail shops. Brand new
condo complex just a block away are selling an average of $850k each!

Key Property Information

Listing Status
Under Contract
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 1,045,000
No. of Units
11
Cap Rate
5.09%
GRM / GIM
10.66
Year Built
1900
Building Size
2,760 Sq ft
No. of Stories
2
APN
7455-024-030
Opportunity Zone
Off
Price per unit
$ 95,000
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33.735872, -118.283358

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