CA > San Pedro
San Pedro, CA 90731,3621 S Pacific AVE
San Pedro, CA 90731,3621 S Pacific AVE
San Pedro, CA 90731,3621 S Pacific AVE
$2,500,000
$2,500,000
Est. payment /mo
6,878 Sqft Lot

UPDATED:

Key Details

Sold Price $2,500,000

Property Type Apartment

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SB25067550

Sold Date 09/23/25

HOA Y/N No

Year Built 1929

Lot Size 6,878 Sqft

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!

Location

State CA

County Los Angeles

Area 181 - Point Fermin

Zoning LARD2

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Curbs

Private Pool No

Building

Lot Description Rectangular Lot

Story 4

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7467015016

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash

Special Listing Condition Standard

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CRMLS – RECore
Listed by Josh Cohen Keller Williams South Bay 310-480-2130
Bought with General NONMEMBER NONMEMBER MRML
Chris Sloan

REALTOR® Chris Sloan works all areas of San Diego real estate and adjacent areas in Southern California-from single family homes to multi-unit residential, investment properties, land, and commercial buildings.

 

He’s adept at helping buyers and sellers with traditional equity transactions, short sales, probate, trust sales, foreclosures, corporate transactions, and exchanges

+1(858) 330-6289

info@sandiegopropertysearch.com

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3621 S Pacific AVE

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