643 W 15th Street
San Pedro, CA, 90731 $ 775,000
Bedrooms4 Baths2.0 Sq 2,148 Monthly Estimate*
$ 5,151
Listed by Lyon Stahl Investment Real Est
for $775,000 with 4 bedrooms and 2 full baths. This 2,148 square foot home was built in 1917 on a lot size of 0.1148.
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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FeaturesGeneralInterior Features OpenFloorplan
Sewer PublicSewer
Heating WallFurnace
Cooling WallWindowUnits
Utilities ElectricityConnected NaturalGasConnected SewerConnected WaterConnected
Possession CloseOfEscrow
Zoning LAR2
HOA 0.0
Garage Spaces 2.0
Pool Features None
Exclusions All Tenants Property
Year Built 1917
Electric Standard
View None
Stories 1
Levels One
Property SubType Duplex
Gross Income 0.0
Community Features Sidewalks
County Los Angeles
Net Operating Income 23010.0
Operating Expense 12390.0
Insurance Expense 1.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Gaffey & 15th St
City San Pedro
Entry Location 1
View Y/N N
Senior Community Y/N N
NumberOfUnitsTotal 2
MLS Area 699 - Not Defined
Lot Size Units SquareFeet
Lot Size Square Feet 5002.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 2
Street Name 15th
Listing Terms Cash CashtoExistingLoan CashtoNewLoan Conventional Item1031Exchange FHA FannieMae FreddieMac
Spa Features None
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 1.0
Home Warranty Y/N N
Current Financing FHA
Fuel Expense 1.0
Trash Expense 1.0
Water Sewer Expense 1.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 11
Building Area Units SquareFeet
Standard Status Active
Year Built Source PublicRecords
Tax Lot 3
Property Sub Type Additional Duplex
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ExteriorParking Features Garage OffStreet
Lot Features Item25UnitsAcre
Water Source Public
Total Parking 2.0
Lot Size Area 5002.0
Number of Buildings 1
Spa N
Building Area Total 2148.0
Street Suffix Street
Lot Size Acres 0.1148
Road Surface Type Paved
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 2
Number of Separate Electric Meters 2
Road Frontage Type Alley CityStreet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorFireplace Features None
Total Stories 1
Common Walls Item1CommonWall
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Laundry Features WasherHookup ElectricDryerHookup GasDryerHookup Inside LaundryRoom
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesList ByLyon Stahl Investment Real EstBroker
Affordability Calculator
- Monthly Principal & Interest
- $5,151
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in San Pedro, CA
Average List Price $1,121,048
Percent of Sale Price 45%
About San Pedro, CA 81,366 Population
0% Since 2002
$ 0 Median Income
0 Median Age
33% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/15/2024 | $775,000 | | Listed Price |