643 W 15th ST Save Request In-Person Tour Request Virtual Tour
San Pedro,CA 90731
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 2,148 sqft
Price per Sqft $360
MLS Listing ID PW24097553
Bedrooms 4
Full Baths 2
Year Built 1917
Lot Size 5,000 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, 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,Laundry Room
Interior
Laundry Location Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup,Laundry Room
Cooling Wall/Window Unit(s)
Fireplaces Type None
Laundry Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup,Laundry Room
Exterior
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Sidewalks
View Y/N No
View None
Building
Lot Description 2-5 Units/Acre
Dwelling Type Duplex
Story 1
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Los Angeles Unified
Others
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