3621 S Pacific Avenue, San Pedro, CA 90731
- $2,500,000
- Sold Price
- $2,500,000
- List Price
- $2,500,000
- Closing Date
- Sep 23, 2025
- Status
- CLOSED
- MLS#
- SB25067550
- Year Built
- 1929
- Lot Size
- 6,876
- Acres
- 0.16
- Lot Location
- Rectangular Lot
- Days on Market
- 87
- Property Type
- Multifamily
- Property Sub Type
- Apartment
Property Description
Price just reduced $250,000! Located in the charming Point Fermin/Palisades neighborhood of San Pedro, 3621 South Pacific is an 4-story, 18 unit multifamily property available for sale for the first time in nearly 23 years! This investment opportunity is being offered at a 6.27% Cap Rate and 8.56 GRM – at an enticing cost per unit of only $138,889 (after May increases). A new owner has the ability to step into an already cashflowing asset with further upside potential of approximately 22%! The property features a unit mix of (6) one bedroom units and (12) studio units, several of which have large, forward facing windows with terrific views of the pacific ocean. Current ownership has always been attentive with staying ahead of capex work and the building is in good shape. The building is close to Cabrillo Beach, the Marina, as well as the brand new West Harbor redevelopment! The immediate area is filled with many terrific retail and entertainment options as well as basic amenities for tenants to take advantage of. San Pedro is known for it's small-town atmosphere and many family-owned businesses, with unique architecture, shops, hotels, restaurants, art galleries, studios, theaters, entertainment and more!
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 18
- Gross Scheduled Income
- $304,872
- Operating Expense
- 140875
Listing courtesy of Listing Agent: Josh Cohen (josh@cohengroupla.com) from Listing Office: Keller Williams South Bay.
Listing sold by General NONMEMBER from NONMEMBER MRML
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.