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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 775,000

Est. payment -/mo

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Pending

643 W 15th ST San Pedro, CA 90731

5,000 Sqft Lot

UPDATED:

11/01/2024 05:40 PM

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Pending

Purchase Type For Sale

MLS Listing ID PW24097243

HOA Y/N No

Year Built 1917

Lot Size 5,000 Sqft

Property Description

UPDATE: One unit to become vacant at the end of August. We are pleased to exclusively offer for sale 643 W 15th St, a 2 unit multi-family investment located in San Pedro, CA. The building features an excellent unit mix of (2) 2 Bed/1 Bath ~1,074 SF Units for a total rentable square footage of 2,148 SF. There are (2) detached garage parking spaces available to tenants which is especially important in this parking impacted submarket. Further, each tenant has (1) assigned parking space adjacent to the garage. For the astute investor, this ample parking can be leveraged into additional income subject to occupancy. In addition, the property has been meticulously well-maintained with updated kitchens, new exterior paint, and a newer roof, and each tenant has its own in-unit laundry. From a pricing standpoint, this property is being offered at a favorable $387,500/Unit and $360.80/SF, roughly $40k/Unit and $50/SF shy of market averages, respectfully. Further, the offering represents an outstanding Value Add Opportunity with 76% in Rent Upside, imputing a Market CAP Rate of 6.03% and Market GRM of 11.98. Lastly, the building is strategically located – not only near the Port – but also within close proximity to the confluence of both Los Angeles and Orange County freeway systems and, in effect, offers tenants easy access to the booming economic and employment hubs of both counties. For these reasons, the astute investor can confidently forecast continued population and median household income growth within the submarket, thus driving prolonged rent growth upon acquisition.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Zoning LAR2

Rooms

Ensuite Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside, Laundry Room

Interior

Interior Features Open Floorplan

Laundry Location Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup,Inside,Laundry Room

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside, Laundry Room

Exterior

Garage Garage, Off Street

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Sidewalks

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

View Y/N No

View None

Parking Type Garage, Off Street

Total Parking Spaces 2

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 7454031003

Energy Description 1.0

Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, FHA, Fannie Mae, Freddie Mac

Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, 1031 Exchange, FHA, Fannie Mae, Freddie Mac

Special Listing Condition Standard

Listed by Daniel Hopkins • Lyon Stahl Investment Real Est • 562-684-6758

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

643 W 15th ST San Pedro, CA 90731

Key Details

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Rooms

Interior

Exterior

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643 W 15th ST