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643 W 15th Street

San Pedro, CA 90731
  • $775,000
  • STATUS: Active
  • ON SITE: 33 Days
  • ID#: PW24097553
UPDATED: 112 min ago
$775,000
  • 4
    BEDS
  • 0.11
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 2,148
    SQFT
  • $361
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1917
County:

School Ratings & Info

School District:
Listing Agent(s): Daniel Hopkins of Lyon Stahl Investment Real Est (310-425-9838) and Joshua Barut of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)


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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-17T19:37:39.37. 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 deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.
www.steelecanyonrealty.com/homes/150522817
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643 W 15th Street San Pedro, CA 90731

  • Price: $775,000
  • Status: Active
  • On Site: 33 Days
  • Updated: 112 min ago
  • ID#: PW24097553
4
Beds
2
Baths
0
½ Baths
0.11
Acres
2,148
SQFT
$361
$/SQFT
1917
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
School District:
Los Angeles Unified
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.
Exterior Features

Attached Garage YN No Entry Level 1 Entry Location 1 Lot Features 2-5 Units/Acre Parking Total 2 Pool Features None Pool Private YN No Property Attached YN Yes Sign On Property YN No View None View YN No

Interior Features

Common Walls 1 Common Wall Cooling Wall/Window Unit(s) Cooling YN Yes Fireplace Features None Fireplace YN No Interior Features All Bedrooms Down Main Level Bathrooms 1 Main Level Bedrooms 2

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features Sidewalks Garage YN Yes Land Lease YN No Laundry Features Washer HookupElectric Dryer HookupGas Dryer HookupLaundry Room Lease Considered YN No Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to Existing LoanCash to New LoanConventional1031 ExchangeFHAFannie MaeFreddie Mac New Construction YN No Property Sub Type Duplex Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Structure Type Duplex Water Source Public Zoning LAR2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-17T19:37:39.37. 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 deemed reliable but is not guaranteed accurate by the MLS or Steele Canyon Realty. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_372767191-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_372767191-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_2_372767191-2.jpg
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Steele Canyon Realty
5923 Severin Drive
La Mesa CA, 91942
Listing Agent(s): Daniel Hopkins of Lyon Stahl Investment Real Est (310-425-9838) and Joshua Barut of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)