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Key Details
Sold Price $981,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB15255793
Sold Date 05/10/16
HOA Y/N No
Year Built 1912
Lot Size 4,791 Sqft
Property Description
PROPERTY: Rare opportunity for investors to purchase a well-maintained apartment building at nearly 6% Cap Rate. It is located in one of the strongest rental areas of San Pedro and boasts growing demand from tenants.
This excellent investment opportunity apartment building consisting of 4 Single and 4 One-Bedroom units. The building has undergone recent upgrades with new Spanish tiles at the entrance steps and throughout hallways on the first and second floors in addition to the upgrades of some of the units.
The property features a laundry room, storage and quaint gated courtyard in the rear of the building. It is separately metered for gas and electric and is easy to maintain. Five of the units are rented at market rents; in addition, there is an upside in rental income of the other three units and through leasing the storage space.
LOCATION: Centrally located between Downtown, Ports O'Call Village and San Pedro Marina, the asset is poised to take advantage of the continued revitalization of Downtown and Waterfront Enhancement Project. It offers easy access to shops, dining, entertainment and transportation.
Location
State CA
County Los Angeles
Area 185 - Plaza
Interior
Fireplace No
Laundry Outside
Exterior
Pool None
Community Features Street Lights, Sidewalks, Urban, Marina
Utilities Available Sewer Available
Private Pool No
Building
Lot Description Back Yard, Near Public Transit
Story Two
Entry Level Two
Water Public
Architectural Style Traditional
Level or Stories Two
Others
Senior Community No
Tax ID 7456014020
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Contract
Special Listing Condition Standard
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Bought with Olga Wright • Re/Max Commercial & Investment