$775,000
Beds:
4
Baths:
2
Sqft:
2,148
Sqft lot:
5,000
Acre lot:
0.11
167 Days On Market -
Property listed by Lyon Stahl Investment Real Est, Daniel Hopkins 562-684-6758
Status:
Activeundercontract
Property Type:
Duplex
Year Built:
1917
Days On Website:
167
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, 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.
Features
Bathrooms
- 1 main level bathroom
- 2 full bathrooms
- 2 total bathrooms
Bedrooms
- 2 main level bedrooms
- 4 total bedrooms
Building
- Built in 1917
- Levels: One
- Living area: 2148
- 1 story
- Architectural style: ,Attached
- Common walls: OneCommonWall
Community
- Sidewalks
Cooling
- WallWindowUnits
Fireplaces
- None
Garage
- 2 spaces
Interior Features
- AllBedroomsDown
Laundry
- WasherHookup
- ElectricDryerHookup
- GasDryerHookup
- LaundryRoom
Listing
- ListingID: PW24097553
- Standard status: ActiveUnderContract
- 118 days on market
Location
- Country: US
Lot
- 0.1148 acres
- 5,002 square feet
- Size: 5,002
- TwoToFiveUnitsAcre
Parking
- 2 totals parking
Pool
- None
Property
- Zoning: LAR2
- None
Sewer
- PublicSewer
Property Map
Map View
$775,000 - 643 W 15th Street, San Pedro, CA 90731
Street View
Directions
643 W 15th Street
San Pedro, CA 90731
Country: US