643 W 15th Street San Pedro, CA 90731
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.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site48 Days
- MLS StatusActive Under Contract
- MLS ID NumberPW24097243
- Home Size Source N/A
- Year Built1917
- Lot Size0.1148 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking GarageOff Street
- Parking Spaces 2
- Sewer Public Sewer
- Number of Stories 11
- Acreage 0.1148
- Water Public
- Property Sub Type Duplex
- Garage Spaces 2
- Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
- Zoning LAR2
- Listing Conditions Standard
Interior Features
- Cooling Wall/ Window Unit(s)
- Heating Wall Furnace
- Interior Open Floorplan
- Fireplace Features None
- Laundry Features Electric Dryer HookupGas Dryer HookupIndividual RoomInsideWasher Hookup
- Fireplace No
Exterior Features
- View None
- Spa No
- Pool Features None
- Spa Features None
- Lot 2-5 Units/ Acre
- Road Frontage AlleyCity Street
Community Features
- Association Dues 0
- Community Features Sidewalks
- Senior Community No
- MLS Area 699 - Not Defined