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454 W O'farrell Street

San Pedro, CA 90731
  • $1,200,000
  • STATUS: Active
  • ON SITE: 21 Days
  • ID#: SB22160019
UPDATED: 46 min ago
$1,200,000
  • 0
    BEDS
  • 0.23
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1924
County:

School Ratings & Info

Listing Agent(s): Clara Duran-Reed of The Duran Reed Firm, Inc. (310-519-7670)


Description

Value-add *** 3 Multi-Family Duplexes (6 Units) *** in one of the most sought-after areas of San Pedro. Prime investment for upgrading, additional, or new development, this 2 lot oversized property near the water has significant upside on the below-market rents which are at approximately 33% under market value. 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.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. Possible ocean/harbor views if building additional stories. Includes two 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.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. & 10 minutes from Long Beach. Do not miss this opportunity. Check Supplement attached. All information deemed accurate, but not guaranteed.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-16T21:26:35.62. 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 Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.
www.livelovebeachcities.com/homes/131263205
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454 W O'farrell Street San Pedro, CA 90731

  • Price: $1,200,000
  • Status: Active
  • On Site: 21 Days
  • Updated: 46 min ago
  • ID#: SB22160019
0
Beds
0
Baths
0
½ Baths
0.23
Acres
1924
Built
Neighborhood:
189 - Barton Hill
County:
Los Angeles
Area:
189 - Barton Hill
Property Description
Value-add *** 3 Multi-Family Duplexes (6 Units) *** in one of the most sought-after areas of San Pedro. Prime investment for upgrading, additional, or new development, this 2 lot oversized property near the water has significant upside on the below-market rents which are at approximately 33% under market value. 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.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. Possible ocean/harbor views if building additional stories. Includes two 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.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. & 10 minutes from Long Beach. Do not miss this opportunity. Check Supplement attached. All information deemed accurate, but not guaranteed.
Exterior Features

Construction Materials Stucco Lot Features LevelRectangular LotWalkstreetYard Number Of Separate Electric Meters 6 Parking Features Driveway Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type MaintainedPaved

Interior Features

Common Walls 1 Common Wall Flooring Tile

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.6 Common Interest None Community Features CurbsParkStreet LightsSidewalksUrban Exclusions Standalone Stoves. Garage YN No Gross Income 66300 Gross Scheduled Income 66300 Insurance Expense 1840 Land Lease YN No Laundry Features None Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Net Operating Income 54860 New Construction YN No Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 11440 Possession Close Of Escrow Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Actual Rent 66300 Trash Expense 0 Utilities Overhead Utilities Water Sewer Expense 9600 Water Source Public Zoning Lar2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-16T21:26:35.62. 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 Bathurst Coastal Properties | Compass. Licensed in the State of California, USA.
 
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Bathurst Coastal Properties | Compass
2141 Rosecrans Ave, Suite 1120
El Segundo CA, 12345
Listing Agent(s): Clara Duran-Reed of The Duran Reed Firm, Inc. (310-519-7670)