752 W 25th Street, San Pedro, CA 90731

$2,398,000
List Price
$2,398,000
Status
PENDING
MLS#
SB22119428
Year Built
1963
Lot Size
8,961
Acres
0.2057
Lot Location
Front Yard, Sprinklers In Front
Days on Market
5
Property Type
Multifamily
Style
MidCenturyModern
Property Sub Type
Apartment
Stories
Two Levels

Property Description

Incredible opportunity to be the 2nd owner of this TROPHY property. Original owners acquired the duplex at 758-760 W 25th St. in the 1950s, bought the lot next door and then in 1963 built the additional seven units to create this pride-of-ownership property nine unit complex that sits on an almost 9000 sq ft double-lot in a prime area of San Pedro. Building mix includes three 2 bedroom 2 bath units, five 2 bedroom 1 bath units and one 1 bedroom 1 bath unit. Some of the units offer breathtaking ocean, harbor and Angel's Gate views and all enjoy the cool ocean breezes. Interiors are in good conditon with a few being remodeled and the roof and windows were replaced in 2002. LA city mandated soft story retrofit? No need to worry about that, it was completed in February of last year (at a cost of about $100k). Laundry hook-ups in units A,B,C, 758 & 760, the other units use coin-operated community laundry equipment. There are 4 garage spaces plus 6 carport spaces. The location? Its located literally just minutes away from local beaches, ocean bluffs, the bustling downtown business district and the multi-million dollar "West Harbor" waterfront redevelopment that is already underway and scheduled to be completed within the next few years. Value? This building is priced aggressively at 15.7 X CURRENT rents (not proforma) and a cap of 4.4. There is also tons of upside in the rents with proforma rents coming in at just over $214,000 per year. This is a great opportunity for your investor clients looking to complete a 1031 exchange. You won't find a better investment deal out there. Hurry!!

Additional Information

Appliances
Free-Standing Range
Pool Description
None
Heat
Wall Furnace
Cooling Description
None
View
Harbor, Marina, Ocean, Water
Roof
Composition, Shingle
Garage Spaces Total
4
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
9
Gross Scheduled Income
$152,676
Operating Expense
46100

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Listing Agent: Gary Krill from Listing Office: Compass

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.