Description

A true once in a lifetime opportunity to purchase in the most exclusive submarket of San Pedro. The Dolphin Cove is a well maintained, 36 units located overlooking the Pacific Ocean, steps from Palos Verdes Golf Course. There are over 50% 2bed 2bath units with mostly ocean views. The Dolphin Cove is well amenitized with ample parking, balconies, onsite laundry, pool, BBQ & a cabana for tenants' enjoyment. It is priced to sell at only $333 per foot, and 5.34% cap rate current - 7.5% cap rate pro forma (9.7 GRM). Additionally, there is the opportunity to add another 11 ADU units onsite - no soft story retrofit required (buyer to verify/ask agent for details). This is an incredible day-one investment with incredible value added opportunity in an irreplaceable location.

Features

• 1.57 Acres
• 2 Stories