643 W 15th Street, San Pedro, CA 90731

$775,000
4
BD
2
BA
2,148
SqFt
List Price
$775,000
Status
ACTIVE
MLS#
PW24097553
Year Built
1917
Bedrooms
4
Bathrooms
2
Living Sq. Ft
2,148
Lot Size
5,002
Acres
0.11
Lot Location
2-5 Units/Acre
Days on Market
13
Property Type
Single Family Residential
Property Sub Type
Duplex
Stories
One Level

Property Description

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.

Additional Information

Pool Description
None
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
View
None
Garage Spaces Total
2
Sewer
Public Sewer
Water
Public
School District
Los Angeles Unified
Interior Features
All Bedrooms Down
Attached Structure
Attached
Number Of Units Total
2

Listing courtesy of Listing Agent: Daniel Hopkins (Daniel.Hopkins@LyonStahl.com) from Listing Office: Lyon Stahl Investment Real Est.

Mortgage Calculator

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.