$775,000 Price Analysis 643 W 15th StSan Pedro, CA 90731 4 bed 2 bath 2,148 SqFt ($360/SqFt) 5,002SqFt lot. Built 1917 Listed 2024-05-14, Taxes $7,000 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
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 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 cn confidently forecast continued population and median household income growth within the submarket, thus driving prolonged rent growth upon acquisition.
Presented by Daniel Waheed at
Lyon Stahl Investment Real Est.
Property MLS #PW24097553 from CRMLS
Year | Assessments Building + Land Total | Tax |
---|---|---|
2022 | $251,966 + $321,660 $573,626 | $7,000 |
2021 | $247,026 + $315,353 $562,379 | $6,907 |
2020 | $244,494 + $312,120 $556,614 | $6,974 |
2019 | $239,700 + $306,000 $545,700 | $6,702 |
2018 | $235,000 + $300,000 $535,000 | $6,606 |
2017 | $77,852 + $278,050 $355,902 | $4,366 |
2016 | $76,326 + $272,599 $348,925 | $4,246 |
2015 | $75,180 + $268,505 $343,685 | $4,185 |
2014 | $73,708 + $263,246 $336,954 | $4,208 |
2013 | $73,375 + $262,057 $335,432 | $4,208 |
2012 | $71,937 + $256,919 $328,856 | $4,263 |
2010 | $70,527 + $251,882 $322,409 | $4,175 |
2009 | $204,000 + $408,000 $612,000 | $7,662 |
2009 | $70,000 + $250,000 $320,000 | $7,662 |
2008 | $200,000 + $400,000 $600,000 | $7,332 |
2007 | $200,000 + $400,000 $600,000 | $7,225 |
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.