Rare Investment Opportunity in growing San Pedro. Perfect for owner occupancy or investor seeking true market rents. The original house with 2 bedrooms and 1 bath in the front is charming with updates and ready for rental. The 2 rear units are both 2-story townhouse style, with 2 bedrooms and 2 baths. The rear building was built more recently, the roof was replaced recently and the entire complex has great potential. The garage accessed off of the alley behind the building offers 6 parking spaces, which is rare for the area. Zoned R2-1XL, there have many higher density developments off of Gaffey Street and you should investigate the potential for redevelopment.Locals will tell you, San Pedro is on the rise. The Downtown renaissance, the coming West Harbor Waterfront & Amphitheater Development and a growing music and brewery scene are just some of the reasons to "explore more". This property is centrally located and offers quick access to the Harbor Freeway and transit options on Gaffey St and Pacific Ave, which help fuel tenant demand. Rents in San Pedro are also on the rise and remain above the average for LA City. The property is covered by LA City Rent Control, which presently allows a 4% rental increase for existing tenants. With two units delivered unoccupied, the opportunity to obtain market rents makes this investment a unique opportunity.
|
DAYS ON MARKET
|
94
|
LAST UPDATED
|
4/16/2024
|
|
YEAR BUILT
|
1970
|
COMMUNITY
|
Plaza
|
|
GARAGE SPACES
|
6.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to Mar 22, '24
|
$1,199,000
|
|
Mar 22, '24 - Apr 16, '24 |
$1,149,000
|
| Apr 16, '24 - Today |
$1,100,000 |
| AREA |
Plaza |
| BUYER'S BROKERAGE COMPENSATION |
2.500 % |
| GARAGE |
Yes |
| LOT |
5000 sq ft |
| LOT DESCRIPTION |
0-1 Unit/Acre |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| WATER |
Public |
| ZONING |
LAR2 |
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Listed with Capwest Real Estate
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/20/24 5:41 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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