REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sean Beattie Jr.

info@seanbeattiejr.com +1(415) 845-8732

$3,500,000

Est. payment - /mo

0.3 Acres Lot

Save Virtual Tour

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID RS26079930

HOA Y/N No

Year Built 1959

Lot Size 0.299 Acres

Property Sub-Type Apartment

Property Description

Located in the highly desirable Point Fermin coastal neighborhood of San Pedro, 3605 Stephen M. White Drive is a 16-unit multifamily property (15 legal units + 1 non-conforming studio) offering a rare opportunity to acquire a true coastal asset directly across from Cabrillo Beach. Available for the first time in decades, this generational offering presents investors with a unique chance to secure a well-located property in a tightly held submarket.

This investment is currently being offered at a 4.91% Cap Rate and 11.26 GRM, with the opportunity to achieve a 7.31% Cap Rate and 8.66 GRM through a value-add program. A new owner can capitalize on approximately 22%+ upside in income by implementing strategic unit renovations, improving management, and turning over units to market rents .

The property features a well-balanced unit mix along with on-site parking and select units that offer harbor and ocean views, creating strong tenant appeal. While the building requires capital improvements, it presents a compelling opportunity for an investor to reposition and significantly enhance the property's performance over time.

Ideally situated near Cabrillo Beach, the Marina, and the rapidly evolving $500M West Harbor redevelopment, the property benefits from both immediate lifestyle appeal and long-term growth drivers. San Pedro continues to attract renters seeking a coastal lifestyle at a more accessible price point, supported by strong employment hubs at the Port of Los Angeles and surrounding industries.

This is a unique opportunity to acquire a coastal Los Angeles asset at an attractive basis with immediate upside and long-term appreciation potential.

Location

State CA

County Los Angeles

Area 181 - Point Fermin

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 2.0

Carport Spaces 10

Garage Description 2.0

Pool None

Community Features Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View Courtyard, Ocean

Total Parking Spaces 12

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7467017001

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Trust

Virtual Tour https://youtube.com/shorts/f5V4Lh0vksM?feature=share

Read Less Info

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Jignesh Patel Sage Real Estate Group Inc 213-453-2572, DRE #01941349

Nearby School & Business

Get More Information

Sean Beattie Jr.

+1(415) 845-8732

Agent | CA DRE# 01944311

Agent CA DRE# 01944311

Quick Search

3605 Stephen M White San Pedro, CA 90731

Sean Beattie Jr.

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information