1350 9Th St Los Angeles, CA 90732

This exceptional 15-unit apartment building presents a compelling value-add opportunity in the desirable Vista Del Oro neighborhood of San Pedro, Los Angeles, CA. Located at 1350 W 9th St, this property boasts 12,070 square feet of rentable space, spread across a two-story building constructed in 1973. The unit mix includes one three-bedroom/two-bathroom unit, eight two-bedroom/one-bathroom units, and six one-bedroom/one-bathroom units, with select units offering balconies. A completed soft-story retrofit enhances the building's structural integrity. The property sits on an 11,502 square foot lot, zoned LARD 1.5, and includes ample subterranean parking. The current owner retains full rights to the on-site laundry facilities. With a current NOI of $178,550 and a pro-forma NOI of $312,483, this property offers a significant potential for increased profitability. The asking price is $3,975,000, representing a current cap rate of 4.49% and a pro-forma cap rate of 7.86%. This prime investment opportunity benefits from its proximity to major development projects, including the Waterfront Redevelopment, San Pedro Courthouse Redevelopment, Rancho San Pedro public housing project, and Alta Sea Science redevelopment project, promising continued appreciation in the area. The property's strong unit mix and substantial rental upside potential make it an attractive investment for discerning buyers. APN: 7459-019-024.