Description
We are pleased to present the unique opportunity to purchase 2214 S Leland Street in San Pedro. The offering consists of TWO buildings - an 8 unit built in the 60s & a 7 unit built in the 20s, situated on an oversized lot in a desirable rental market of San Pedro. Large units averaging 848 sqft with onsite laundry and five 2-car garages. The property has an exceptional unit mix of 53% 2 bedroom and 3 bedroom units, and has permits for a 16th Unit - a 2 bedroom ADU garage conversion. There is over 80% Upside in the NOI (not including the ADU buildout)! The property has been well maintained, is cash flowing well, and has a significant amount of upside for a savvy investor. 9.4 GRM market, 7.55% Cap Rate market without the ADU. 8.7 GRM & 8.28% Cap Rate with the ADU!
Location
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Listing Agent: Shane Young
Listing Office: Younglewin Advisors, Inc.
Attribution contact: 562-318-0215