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We are pleased to present the exclusive offering of 2404 S Carolina St, a well-maintained coastal multifamily investment located in the desirable San Pedro submarket. This exceptional asset represents an attractive opportunity to acquire a 4-unit apartment community in one of Southern California's established coastal rental markets. Originally constructed in 1957, the property consists of approximately 3,672 rentable square feet situated on a 6,092 square foot lot. Residents enjoy ocean views from the property, further enhancing its desirability and tenant appeal. Ideally situated in the Point Fermin neighborhood, the property is near the San Pedro waterfront, Cabrillo Beach, Point Fermin, West Harbor, and a variety of restaurants, retail, and entertainment destinations, offering residents a desirable coastal lifestyle with convenient access to the broader South Bay and Los Angeles markets. Additional amenities include in-unit washers and dryers, four covered parking spaces, and a shared outdoor patio. The property has also benefited from significant recent capital improvements, including a completely repaired foundation, new PEX plumbing throughout the building, five new electrical panels, new exterior paint, and extended gutters. Both upstairs units have been fully renovated, providing a strong foundation for continued property performance. The property is currently operating at a 6.23% capitalization rate and an 11.63 GRM, offering investors an attractive combination of current cash flow and future upside. Additional value-add potential can be realized through renovations to the downstairs units and strategic rent increases, allowing a new owner to enhance rental income and overall property performance. Potential ADU development may provide additional upside, subject to applicable zoning and permitting requirements. Buyer to verify all ADU development potential, requirements, and feasibility. Offered at $1,300,000, 2404 S Carolina St provides investors with an opportunity to acquire a well-maintained coastal multifamily asset at an attractive basis, with a combination of current income, recent capital improvements, and future value-add potential. The property's desirable San Pedro location, ocean views, parking, in-unit laundry, and proximity to ongoing waterfront revitalization position it as an attractive investment opportunity with potential for long-term income growth and appreciation.
Property Type(s):
Residential Income
| Last Updated | 8/12/2026 | Year Built | 1957 |
|---|---|---|---|
| Community | 181 - Point Fermin | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Dishwasher, Dryer, Microwave, Refrigerator, Washer, Washer/Dryer Stacked |
| AREA | 181 - Point Fermin |
| HEAT | Wall Furnace |
| LOT | 6094 sq ft |
| LOT DIMENSIONS | 6092 |
| PARKING | Covered, Detached Carport, Driveway |
| STORIES | 2 |
| VIEW | Yes |
| VIEW DESCRIPTION | Ocean |
Location
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Listed with BRC Advisors- BH
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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