Villa del Arroyo Apartments

$6,499,000

917 & 919 W 5th St. and 515 S Meyler St., San Pedro
  • UNITS:  25 + 3
  • UNIT MIX:  (1) 2 Bed / 1.5 Bath Townhome, (1) 2 Bed / 1.5 Townhome (Non-Conforming), (14) 2 Bed / 1 Bath, (1) 1 Bed / 1 Bath (Non-Conforming), (9) 1 Bed / 1 Bath, and (1) Studio (Non-Conforming)
  • YEAR BUILT: 1972
  • CAP RATE: 4.04%
  • GRM: 13.98
  • BUILDING SF: 21,154
  • LAND SF: 31,157

DESCRIPTION

> Great Corner Lot Location in an Upscale Residential Neighborhood
> 25 Legal + 3 Non-Conforming Units (28 Total)
> 60% Two-Bedroom Units
> Value-Add Opportunity with Immediate Upside in Rents (20%+)
> Amenities Include: On-Site Laundry, Ample Parking, Views, Patios and Balconies

The Villa del Arroyo Apartments offer a rare opportunity in the unincorporated / high end area of “La Rambla” in San Pedro, CA. Consisting of 28 Units (25 Legal + 3 Non-Conforming), the property is situated on a 31,157 Sq. Ft. corner lot, located at the crossroads of 515 Meyler Avenue, and 917 W 5th Street. The property consists of three separate buildings built in 1972, which feature Ocean/ Harbor Views (Select Units), Large Balconies and Patios, and an abundance of Parking which feature (28) carport spaces, (3) two-car garages, (1) one-car garage and (2) uncovered parking spaces. Another bonus to this asset is the outstanding unit mix of: (1) – 2 Bed / 2 Bath, (1) – 2 Bed / 1.5 Bath Townhome, (1) – 2 Bed / 1.5 Townhome Non-Conforming, (14) – 2 Bed / 1 Bath, (1) – 1 Bed / 1 Bath Non-Conforming, (9) – 1 Bed / 1 Bath, (1) – Non-Conforming Studio. Additionally, the buildings have copper plumbing and the roof was replaced within the last 10 years+/-. Please drive by only, and do not disturb the tenants.



LISTING BROKER(s)

Pat Swanson
Executive Vice President

MOBILE: 213.864.2862
EMAIL: pat.swanson@colliers.com
DIRECT: 949.724.5564
LICENSE #: 01382974