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680 W 18th Street

San Pedro, CA 90731
  • $1,100,000
  • STATUS: Active Under Contract
  • ON SITE: 120 Days
  • ID#: SB24033109
Under Contract
UPDATED: 32 min ago
$1,100,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1970
County:
Area:

School Ratings & Info

Listing Agent(s): Ante Perkov of Capwest Real Estate (310-378-0126)


Description

Rare Investment Opportunity in growing San Pedro. Perfect for owner occupancy or investor seeking true market rents. The original house with 2 bedrooms and 1 bath in the front is charming with updates and ready for rental. The 2 rear units are both 2-story townhouse style, with 2 bedrooms and 2 baths. The rear building was built more recently, the roof was replaced recently and the entire complex has great potential. The garage accessed off of the alley behind the building offers 6 parking spaces, which is rare for the area. Zoned R2-1XL, there have many higher density developments off of Gaffey Street and you should investigate the potential for redevelopment.Locals will tell you, San Pedro is on the rise. The Downtown renaissance, the coming West Harbor Waterfront & Amphitheater Development and a growing music and brewery scene are just some of the reasons to "explore more". This property is centrally located and offers quick access to the Harbor Freeway and transit options on Gaffey St and Pacific Ave, which help fuel tenant demand. Rents in San Pedro are also on the rise and remain above the average for LA City. The property is covered by LA City Rent Control, which presently allows a 4% rental increase for existing tenants. With two units delivered unoccupied, the opportunity to obtain market rents makes this investment a unique opportunity.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T21:29:03.87. 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/147682802
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680 W 18th Street San Pedro, CA 90731

  • Price: $1,100,000
  • Status: Active Under Contract
  • On Site: 120 Days
  • Updated: 32 min ago
  • ID#: SB24033109
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1970
Built
Neighborhood:
185 - Plaza
County:
Los Angeles
Area:
185 - Plaza
Property Description
Rare Investment Opportunity in growing San Pedro. Perfect for owner occupancy or investor seeking true market rents. The original house with 2 bedrooms and 1 bath in the front is charming with updates and ready for rental. The 2 rear units are both 2-story townhouse style, with 2 bedrooms and 2 baths. The rear building was built more recently, the roof was replaced recently and the entire complex has great potential. The garage accessed off of the alley behind the building offers 6 parking spaces, which is rare for the area. Zoned R2-1XL, there have many higher density developments off of Gaffey Street and you should investigate the potential for redevelopment.Locals will tell you, San Pedro is on the rise. The Downtown renaissance, the coming West Harbor Waterfront & Amphitheater Development and a growing music and brewery scene are just some of the reasons to "explore more". This property is centrally located and offers quick access to the Harbor Freeway and transit options on Gaffey St and Pacific Ave, which help fuel tenant demand. Rents in San Pedro are also on the rise and remain above the average for LA City. The property is covered by LA City Rent Control, which presently allows a 4% rental increase for existing tenants. With two units delivered unoccupied, the opportunity to obtain market rents makes this investment a unique opportunity.
Exterior Features

Entry Level 1 Entry Location Street Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 3 Parking Total 6 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features BikingCurbsDog ParkFishingGutter(s)HikingParkPreserve/Public LandStorm Drain(s)Street LightsSuburbanSidewalksWater Sports Electric Expense 600 Fuel Expense 0 Garage YN Yes Gross Income 0 Gross Scheduled Income 80400 Insurance Expense 3000 Land Lease YN No Laundry Features See Remarks Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Net Operating Income 49647 New Construction YN No New Taxes Expense 15000 Number Of Separate Gas Meters 3 Number Of Separate Water Meters 0 Operating Expense 26733 Other Expense 2133 Property Sub Type Triplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Trash Expense 0 Vacancy Allowance 4020 Vacancy Allowance Rate 5 Water Sewer Expense 6000 Water Source Public Zoning LAR2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T21:29:03.87. 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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Team Tami | Palm Realty Boutique
323 Culver Blvd.
Playa del Rey CA, 90293
Listing Agent(s): Ante Perkov of Capwest Real Estate (310-378-0126)