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643 W 15th ST San Pedro, CA 90731
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Key Details
Sold Price $795,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,148 sqft
Price per Sqft $370
MLS Listing ID CRPW24097553
Sold Date 11/08/24
Bedrooms 4
Full Baths 2
Originating Board California Regional MLS
Year Built 1917
Lot Size 5,002 Sqft
Property Description
UPDATE: One unit to become vacant 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,
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning LAR2
Interior
Cooling Window / Wall Unit
Fireplaces Type None
Laundry In Laundry Room, 30, 38
Exterior
Garage Spaces 2.0
Pool None
View None
Building
Story One Story
Water District - Public
Others
Tax ID 7454031003
Special Listing Condition Not Applicable
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Bought with Rocio Bencomo