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    1134 W 22nd Street

    San Pedro, CA 90731
    • $3,100,000
    • STATUS: Active Under Contract
    • ON SITE: 39 days
    • ID#: PW20223480
    Under Contract
    $3,100,000
    • 0
      BEDS
    • 0.25
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,160
      SQFT
    • $278
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Ratings & Info

    Description

    1134 West 22nd Street is a 12-unit apartment building in San Pedro, California located just steps from Leland Elementary School. This offering presents an excellent opportunity to renovate and reposition an asset with a desirable unit mix in a redeveloping coastal market and capture over 45 percent rental upside. The asset is a 1972 construction with seven two-bedroom/one-bath and five one-bedroom/one-bath units that are separately metered for gas and electricity. The property has copper plumbing and also offers on-site laundry, 20 parking spaces, and balconies for 11 of the 12 units. Substantial recent improvements include $24,000 spent on extensive roof work with top-of-the-line elastomeric roof coating on the entire roof and $9,000 spent on a new garage gate opener and equipment upgrades. Furthermore, the building has been inspected and determined to be exempt from the city+GGs soft retrofit requirement (buyer to verify).

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-12-01T00:28:49.747. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.

    www.playavistaliving.com/homes/111261934
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    1134 W 22nd Street San Pedro, CA 90731

    • Price: $3,100,000
    • Status: Active Under Contract
    • ID#: PW20223480
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.25
    Acres
    11,160
    SQFT
    $278
    $/SQFT
    1972
    Built
    Neighborhood:
    183 - Vista Del Oro
    County:
    Los Angeles
    Area:
    183 - Vista Del Oro
    Property Description
    1134 West 22nd Street is a 12-unit apartment building in San Pedro, California located just steps from Leland Elementary School. This offering presents an excellent opportunity to renovate and reposition an asset with a desirable unit mix in a redeveloping coastal market and capture over 45 percent rental upside. The asset is a 1972 construction with seven two-bedroom/one-bath and five one-bedroom/one-bath units that are separately metered for gas and electricity. The property has copper plumbing and also offers on-site laundry, 20 parking spaces, and balconies for 11 of the 12 units. Substantial recent improvements include $24,000 spent on extensive roof work with top-of-the-line elastomeric roof coating on the entire roof and $9,000 spent on a new garage gate opener and equipment upgrades. Furthermore, the building has been inspected and determined to be exempt from the city+GGs soft retrofit requirement (buyer to verify).
    Exterior Features

    Garage Spaces 20.00 Lot Features Lot 10000-19999 Sqft Lot Size Source Assessor Lot Size Units Square Feet Parking Total 20.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features Community

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 3.43 Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 181486.00 Gross Multiplier 16.87 Gross Scheduled Income 183720.00 Insurance Expense 0.00 Land Lease YN No Laundry Income 1440.00 Laundry YN Yes Net Operating Income 106348.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 12 Number Of Separate Gas Meters 12 Number Of Separate Water Meters 0 Operating Expense 75137.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 75137.00 Trash Expense 0.00 Vacancy Allowance 3674 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lar2

    Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker and David O'keefe of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-12-01T00:28:49.747. 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 deemed reliable but is not guaranteed accurate by the MLS or Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.

     
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