Description
Value-add *** 6 Units Only $200K/Unit *** in one of the most sought-after areas of San Pedro. Prime investment for upgrading, additional, or new development, this property with its double sized lot near the water has significant upside on the below-market rents which are at approximately 33% under market value. The property consists of 2 lots with 3 buildings set up as bungalows. Two buildings on the West and East, and one building to the North. The bungalows surround a huge courtyard with endless possibilities. Check into building 2 additional units in the middle? How about adding bedrooms to at least 4 of the units? Possible ocean/harbor views if building additional stories. Includes four car parking onsite. Gated and well maintained with wide plank vinyl flooring, tile floors, wood kitchen cabinets, and more. Separate meters for gas and electric. Low expenses. 2 of the units might be easy to evict. San Pedro is a fast growing community which has commenced a multi-million dollar Promenade & Harbor development, with entertainment, dining options, & views of the harbor ocean. This is a prime area is in the midst of enormous transformation in San Pedro with new PUDs and condos built nearby. Subject to RSO. Well situated for renters or future condo / PUD owners (?) just minutes to Cabrillo beach, near Barton Hill Elementary School, churches, supermarkets, shopping, numerous parks, trendy downtown restaurants, art galleries, and downtown San Pedro with its unique character. Just blocks to the 110 & 47 freeways, with a short 30-minute drive to downtown L.A. the 405 Fwy & 10 minutes from Long Beach. Do not miss this opportunity. Check Supplement attached. All information deemed accurate, but not guaranteed.
Location
"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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 26th March, 2023 6:37 PM (UTC)
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 26th March, 2023 6:37 PM (UTC)
Listing Agent: Clara Duran-Reed
Listing Office: The Duran Reed Firm, Inc.
