NOT LISTED FOR SALE

470 W 15th St San Pedro, CA 90731

Estimated Value: $917,360 - $1,042,000

4 Beds
3 Baths
2,088 Sq Ft
$461/Sq Ft Est. Value

Last Sold February 27, 2024

Last sale price $903,000 $432 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $5,463/month

42 Days on Market

Highlights

  • Golf Course Community
  • Craftsman Architecture
  • Hiking Trails
  • Fishing
  • Wood Flooring
  • Laundry Room

About This Home

As of February 2024

This Craftsman Triplex is an outstanding chance to enjoy both a comfortable lifestyle and a smart investment in the lively heart of San Pedro. Positioned within easy reach of the highly anticipated West Harbor promenade (scheduled for Spring 2025), this property embodies convenience and a desirable way of life.

Comprising two distinct buildings, the front residence boasts a tastefully renovated 2-bedroom, 1-bathroom home brimming with character. Recently upgraded with stunning white shaker cabinets, stone countertops, and a captivating black and white full bath, this home radiates a blend of inviting warmth and refined elegance.

The rear section encompasses two separate units, each featuring 1 bedroom and 1 bath. Unit 472 has undergone extensive remodeling and stands ready for immediate occupancy, making it an ideal choice for an owner-occupant seeking a seamless move-in experience. Meanwhile, the second rear unit is currently leased to a long-term tenant, offering potential for future updates or ongoing rental income.

This property not only offers the opportunity for comfortable living in one unit while generating income from the other two but also benefits from its proximity to the forthcoming West Harbor promenade, promising increased value and attractiveness. Embrace the distinctive combination of contemporary comfort, sophisticated design, and investment potential within San Pedro's thriving community.

Additionally, recent upgrades including fresh paint, a new roof, updated electrical panels, and washer and dryer hookups in all units ensure modern convenience and hassle-free maintenance. Ample street parking, complemented by a nearby school across the street, further enhances the property's convenience and accessibility, elevating its overall appeal. Don't overlook this extraordinary opportunity to embrace a fulfilling lifestyle and make a sound investment in San Pedro's bustling community.

Last Agent to Sell the Property

Adela Randazzo

Keller Williams Realty License #01954846 Listed on: 12/11/2023

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,590

Year Built

  • Built in 1925 | Remodeled

Lot Details

  • 5,005 Sq Ft Lot
  • 1 Common Wall
  • Vinyl Fence
  • Block Wall Fence
  • Density is up to 1 Unit/Acre

Home Design

  • Triplex
  • Craftsman Architecture
  • Pillar, Post or Pier Foundation
  • Raised Foundation
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,088 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Family Room with Fireplace
  • Laundry Room

Flooring

  • Wood
  • Vinyl

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Bathrooms

Outdoor Features

  • Rain Gutters

Utilities

  • Wall Furnace
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Legal Lot and Block 20 / 15
  • Assessor Parcel Number 7456016019
  • $347 per year additional tax assessments

Community Details

Overview

  • 2 Buildings
  • 3 Units
  • Military Land

Recreation

  • Golf Course Community
  • Fishing
  • Dog Park
  • Water Sports
  • Hiking Trails
  • Bike Trail

Building Details

  • 2 Leased Units
  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $720
  • Insurance Expense $1,456
  • Professional Management Expense $2,925
  • Trash Expense $726
  • Water Sewer Expense $482
  • New Taxes Expense $10,698
  • Operating Expense $17,007
  • Gross Income $61,536
  • Net Operating Income $42,779

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,590

Year Built

Built in 1925 | Remodeled

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 4.70
  • Price Per Unit: 299667
  • Professional Management Expense: 2925.00
  • Property Attached: Yes
  • Road Frontage Type: City Street
  • View: No
  • Water Sewer Expenses: 481.92
  • Zoning: LAR2
  • Architectural Style: Craftsman
  • Property Condition: Updated/Remodeled
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Gardener Expense: 720.00
  • Parcel Number: 7456016019
  • Year Built: 1925
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Ceiling Fan(s)
  • Stories: 1
  • Entry Location: ground
  • Common Walls: 1 Common Wall
  • Flooring: Vinyl, Wood
  • Entry Level: 1
  • Fireplace Features: Family Room
  • Levels: One
  • Price Per Square Foot: 432.47

Exterior Features

  • Foundation: Concrete Perimeter, Pillar/Post/Pier, Raised
  • Fence: Yes
  • Fencing: Block, Vinyl
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Utilities

  • Utilities: Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Trash Expense: 726.47
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Biking, Curbs, Dog Park, Fishing, Golf, Hiking, Gutters, Watersports, Military Land, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 5005.00
  • Lot Size Acres: 0.1149

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 576 Square Feet
  • Average2 Bed Area: 936 Square Feet
  • Gross Income: 61536.00
  • Gross Multiplier: 15.03
  • Gross Operating Income: 59786.00
  • Gross Scheduled Income: 61536.00
  • Insurance Expense: 1456.30
  • Lot Size Area: 5005.0000 Square Feet
  • Net Operating Income: 42779.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 3
  • Number With Range: 2
  • Operating Expense: 17007.00
  • Rent Control: Yes
  • Total Actual Rent: 3378.55
  • Total Expenses: 17007.00
  • Vacancy Allowance: 1750

Tax Info

  • New Taxes Expense: 10698.00
  • Tax Block: 15
  • Tax Census Tract: 2971.20
  • Tax Lot: 20
  • TaxOtherAnnualAssessmentAmount: 347.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 11, 2023
Closed on
Jan 23, 2024
Sold by
Almeida Trust
Bought by
Choi Joseph
Seller's Agent
Adela Randazzo
Keller Williams Realty
List Price
$899,000
Sold Price
$903,000
Premium/Discount to List
$4,000
0.44%
Views
291
Current Estimated Value
$962,340

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$59,340
Avg. Annual Appreciation
-0.41%
Original Mortgage
$857,850
Outstanding Balance
$846,938
Interest Rate
6.66%
Mortgage Type
New Conventional
Estimated Equity
$50,936
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Choi Joseph $903,000 Chicago Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Choi Joseph $857,850
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/27/2024 02/27/24 Sold $903,000 +0.4% $432 / Sq Ft
01/22/2024 01/22/24 Pending -- -- --
12/11/2023 12/11/23 For Sale $899,000 -- $431 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,590 $102,998 $64,753 $38,245
2023 $1,565 $100,980 $63,484 $37,496
2022 $1,501 $99,001 $62,240 $36,761
2021 $1,472 $97,061 $61,020 $36,041
2020 $1,481 $96,067 $60,395 $35,672
2019 $1,434 $94,184 $59,211 $34,973
2018 $1,347 $92,338 $58,050 $34,288
2016 $1,266 $88,754 $55,797 $32,957
2015 $1,250 $87,421 $54,959 $32,462
2014 $1,247 $85,710 $53,883 $31,827
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB23223733

California Regional Multiple Listing Service (CRMLS)

APN: 7456-016-019