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    723 W 11th Street

    San Pedro, CA 90731
    • $1,450,000
    • STATUS: Active
    • ON SITE: 125 days
    • ID#: SR20053453
    UPDATED: 56 min ago
    $1,450,000
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,584
      SQFT
    • $260
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1974
    County:
    Area:

    School Ratings & Info

    Description

    MAJOR $150,000 PRICE REDUCTION - Priced to Sell - Bring Offers. Located in Central San Pedro - 5 Unit Apartment Building - Value Add - Huge Upside in Rents. This 5 unit apartment building is located in a high demand rental area of San Pedro, California just blocks from San Pedro Plaza Park and a direct shot to the waterfront. This well-maintained property has an excellent unit mix consisting of (1) 3 bedroom townhouse style unit with 2 baths and (4) 2 bedroom 1 bath units. Each unit has its own 2 car garage. All earthquake soft story retrofitting has been completed and permitted. New commercial water heater with associated plumbing and a resealed flat roof. This value add deal has a tremendous upside in the rents in an area where this is a lack of rental inventory and strong demand for apartment assets. Two of the tenants are Section 8. San Pedro is seeing a massive redevelopment boom. There are many factors driving this influx in development, including the revitalization of the San Pedro waterfront that envisions a town square and attractions much like San Franciscos Fisherman Wharf. Aside from just a lack of product, strong submarket rent growth and high occupancy figures are making San Pedro/Long Beach top targets for investors looking for value add deals. This renaissance will continue to drive housing demand and increase apartment values in the market.

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    Based on information from CRISNet MLS as of 2020-07-14T17:56:09.543. 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.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2020-07-14T17:56:09.543. 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.
    www.randyplaice.com/homes/104037990
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    723 W 11th Street San Pedro, CA 90731

    • Price: $1,450,000
    • Status: Active
    • Updated: 56 min ago
    • ID#: SR20053453
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    5,584
    SQFT
    $260
    $/SQFT
    1974
    Built
    Neighborhood:
    185 - Plaza
    County:
    Los Angeles
    Area:
    185 - Plaza
    Property Description
    MAJOR $150,000 PRICE REDUCTION - Priced to Sell - Bring Offers. Located in Central San Pedro - 5 Unit Apartment Building - Value Add - Huge Upside in Rents. This 5 unit apartment building is located in a high demand rental area of San Pedro, California just blocks from San Pedro Plaza Park and a direct shot to the waterfront. This well-maintained property has an excellent unit mix consisting of (1) 3 bedroom townhouse style unit with 2 baths and (4) 2 bedroom 1 bath units. Each unit has its own 2 car garage. All earthquake soft story retrofitting has been completed and permitted. New commercial water heater with associated plumbing and a resealed flat roof. This value add deal has a tremendous upside in the rents in an area where this is a lack of rental inventory and strong demand for apartment assets. Two of the tenants are Section 8. San Pedro is seeing a massive redevelopment boom. There are many factors driving this influx in development, including the revitalization of the San Pedro waterfront that envisions a town square and attractions much like San Franciscos Fisherman Wharf. Aside from just a lack of product, strong submarket rent growth and high occupancy figures are making San Pedro/Long Beach top targets for investors looking for value add deals. This renaissance will continue to drive housing demand and increase apartment values in the market.
    Exterior Features

    Construction Materials Stucco Fence YN Yes Fencing Wrought Iron Lot Features Front YardRectangular LotLevelSprinkler System Lot Size Area 4843.0000 Parking Features Assigned Parking Total 10.00 Parking YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Flat View Bridge(S)City LightsHarborMountain(S) View YN Yes

    Interior Features

    Common Walls 1 Common Wall Laundry Features Common AreaIndividual Room Laundry YN Yes

    Property Features

    Additional Parcels YN No Community Features CurbsGuttersSidewalksStorm DrainsStreet Lights Electric Expense 2900.00 Fuel Expense 2881.00 Gardener Expense 950.00 Gross Income 94178.00 Gross Multiplier 15.66 Gross Operating Income 94178.00 Gross Scheduled Income 92604.00 Insurance Expense 2700.00 Land Lease YN No Laundry Income 2500.00 Maintenance Expense 2600.00 Net Operating Income 58660.00 New Construction YN No New Taxes Expense 17023.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Operating Expense 35518.00 Operating Expense Percent 38.00 Pest Control Expense 220.00 Pool Features None Pool Private YN No Professional Management Expense 0.00 Property Attached YN Yes Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 35518.00 Trash Expense 2744.00 Water Sewer Expense 3000.00 Water Source Public Zoning Lard2

    Listing provided courtesy of Cynthia Burts, CA DRE# 01134271, of Burts & Associates.


    Based on information from CRISNet MLS as of 2020-07-14T17:56:09.543. 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.

    The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Based on information from the i-Tech MLS as of 2020-07-14T17:56:09.543. 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.
     
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    27720 Dickason Drive
    Valencia CA, 91355