350 W 14th St San Pedro, CA 90731
4
Beds
8
Baths
4,080
Sq Ft
4,809
Sq Ft Lot
Highlights
- Marina
- Traditional Architecture
- Laundry Room
- Property is near public transit
- No HOA
- Back Yard
About This Home
As of May 2016PROPERTY: Rare opportunity for investors to purchase a well-maintained apartment building at nearly 6% Cap Rate. It is located in one of the strongest rental areas of San Pedro and boasts growing demand from tenants.
This excellent investment opportunity apartment building consisting of 4 Single and 4 One-Bedroom units. The building has undergone recent upgrades with new Spanish tiles at the entrance steps and throughout hallways on the first and second floors in addition to the upgrades of some of the units.
The property features a laundry room, storage and quaint gated courtyard in the rear of the building. It is separately metered for gas and electric and is easy to maintain. Five of the units are rented at market rents; in addition, there is an upside in rental income of the other three units and through leasing the storage space.
LOCATION: Centrally located between Downtown, Ports O’Call Village and San Pedro Marina, the asset is poised to take advantage of the continued revitalization of Downtown and Waterfront Enhancement Project. It offers easy access to shops, dining, entertainment and transportation.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #01315042 Listed on: 12/01/2015
Last Buyer's Agent
Lyon Stahl Investment Real Estate, Inc. License #01315042 Listed on: 12/01/2015
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1912
Lot Details
- 4,809 Sq Ft Lot
- Property fronts an alley
- No Common Walls
- Back Yard
Home Design
- 4,080 Sq Ft Home
- Traditional Architecture
Bedrooms and Bathrooms
- 4 Bedrooms
- 8 Bathrooms
Laundry
- Laundry Room
- Laundry Located Outside
Outdoor Features
- Exterior Lighting
Location
- Property is near public transit
- Urban Location
Listing and Financial Details
- Tax Lot 20
- Tax Tract Number 2971
- Assessor Parcel Number 7456014020
Community Details
Overview
- No Home Owners Association
- 8 Units
Recreation
- Marina
Building Details
- Rent Control
- 9 Separate Electric Meters
- 9 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $700
- Insurance Expense $3,700
- Maintenance Expense $3,600
- Professional Management Expense $4,400
- Trash Expense $200
- Water Sewer Expense $300
- New Taxes Expense $11,896
- Gross Income $7,386
- Net Operating Income $61,177
Similar Homes in the area
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/10/2016 05/10/16 | Sold | $981,000 | -1.7% | $240 / Sq Ft |
| 03/18/2016 03/18/16 | Pending | -- | -- | -- |
| 12/01/2015 12/01/15 | For Sale | $998,000 | +40.6% | $245 / Sq Ft |
| 07/02/2014 07/02/14 | Sold | $710,000 | -4.6% | $145 / Sq Ft |
| 05/03/2014 05/03/14 | Pending | -- | -- | -- |
| 04/03/2014 04/03/14 | For Sale | $744,000 | -- | $152 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Olga Wright
Seller's Agent in 2016
Olga Wright
Lyon Stahl Investment Real Estate, Inc.
(310) 425-9838
26 in this area
95 Total Sales
-
Stephen Lampe
Seller's Agent in 2014
Stephen Lampe
RE/MAX
(310) 802-2500
11 in this area
45 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB15255793
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