2115 S Gaffey Street, San Pedro, CA 90731

$1,400,000

bedrooms

bathrooms

square feet

3,146

Acreage

0.13432047750229567

Open Houses

year built

1929

Full Baths

Half Baths

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7 units total on Gaffey just South of 21st st in the Vista Del Oro neighborhood of San Pedro. The 6 unit original 1929 apartment building, all 1 bedroom-1 bathrooms includes 2,808 sqft of living space, and the new studio ADU first rented out in July of 2024 is 338 sqft. The 5,851 sqft lot spans from Gaffey to a rear alley and there are 4 single car garages with alley access. The building is well priced on current income at 11.4X GRM, with ~20% upside in rents, to a market GRM of 9.4X. The current cap rate is 5.1% with upside to 6.7%. There are two duplexes up front, with two additional units above the rear garages and ADU, for a total of 3 separate buildings. The two larger 1 bed units above the garages have harbor views. The units are separately metered for gas and electricity. The property is located 1 mile from Cabrillo Beach, 1/2 mile from the Cabrillo way Marina and the $170-million West Harbor ongoing development of restaurants, shops, and brand new amphitheater. The building is also conveniently less than 2 miles from the 110 freeway offering timely access to all that the rest of Los Angeles has to offer. Per Costar 55% of the households within 5 miles are Renters, and the average household income within 5 miles is $108,000.

Location
Subdivision	-
County	Los Angeles
Elementary School	-
Middle School	-
High School	-

Driving directions

Open houses

None scheduled.

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MLS number: SB25064344

Listing agent: Josh Ess #02035659

Listing broker: Buckingham Investments, Inc. (562) 208-4890

Copyright © 2025 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Thursday, April 3 2025 at 1:35 a.m. EDT

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