643 W 15th Street, San Pedro, CA 90731
643 W 15th Street, San Pedro, CA 90731
643 W 15th Street, San Pedro, CA 90731
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Jerrod Waller

Jerrod Waller

+1(858) 822-8634
$775,000
Est. payment /mo
4 Beds
2 Baths
5,002 Sqft Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Pending

Purchase Type For Sale

MLS Listing ID PW24097243

Bedrooms 4

Lot Size 5,002 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

UPDATE: One unit to become vacant at the 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

Zoning Public Rec

Direction Gaffey & 15th St

Interior

Cooling Wall/Window

Fireplace No

Exterior

View Y/N No

Building

Story 1

Level or Stories 1

Others

Senior Community No

Tax ID 7454031003

Acceptable Financing Cash, Conventional, Exchange, FHA

Listing Terms Cash, Conventional, Exchange, FHA

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MLS Router / San Diego MLS
Listed by Daniel Hopkins, DRE#02105900 Lyon Stahl Investment Real Est 

NEARBY SCHOOL & BUSINESS

Jerrod Waller

“If you're looking for a dedicated and knowledgeable real estate professional who will go above and beyond to help you achieve your goals, I'm here to serve you. Contact me today to learn more about how he can assist you with all your real estate needs.”
 

+1(858) 822-8634

jwaller@sdrealtyco.com

3555 5th Avenue 3rd Floor, San Diego, CA 92103

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643 W 15th Street