NOT LISTED FOR SALE

551 W Macarthur Ave San Pedro, CA 90731

San Pedro Area

Estimated Value: $1,059,000 - $1,152,000

8 Beds
7 Baths
3,420 Sq Ft
$317/Sq Ft Est. Value

Sale Details

Date Sold: February 25, 2022

Last sale price $1,035,000 $303 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $7,032 / mo

15 Days on Market

Highlights

  • Tile Flooring
  • 4 Detached Carport Spaces
  • Block Wall Fence
  • San Pedro Senior High School Rated A-
  • Central Heating and Cooling System
  • Gentle Sloping Lot

About This Home

As of February 2022

EXCELLENT INVESTMENT OPPORTUNITY. Built in 1981 - not under City of LA Rent Control Ordinance, but under California Rent Control. Rents are well below rents of like units in area so this property has a great deal of potential.

These 4 units are located in beach city of San Pedro. 2 Townhome Style units with 2 bedroom 2 bath (Unit A and Unit B), plus 2 One-Level units with 2 bedrooms each (Unit C has 1 bath and Unit D has 2 bath). Each unit has 2 off-street covered parking spaces. Common laundry room with Washer and Dryer. All units have Central Air. This property only minutes away from the New Water Front Market under development, shopping, dining, beaches, cruise terminal and parks.

Last Agent to Sell the Property

George Leonard

Century 21 Coastal Properties License #00672595 Listed on: 01/03/2022

Century 21 Coastal Properties

Co-Listed By

Hayley Leonard

Century 21 Coastal Properties License #02078660

Last Buyer's Agent

Gary Krill

Compass License #01086159

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1981

Lot Details

  • 4,801 Sq Ft Lot
  • Two or More Common Walls
  • Block Wall Fence
  • Gentle Sloping Lot

Home Design

  • Property Attached
  • Flat Roof Shape
  • Rolled or Hot Mop Roof
  • Partial Copper Plumbing

Interior Spaces

  • 3,420 Sq Ft Home
  • 2-Story Property
  • Gas Oven
  • Laundry in unit

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 7 Bathrooms

Parking

  • 4 Open Parking Spaces
  • 8 Parking Spaces
  • 4 Detached Carport Spaces
  • Parking Available

Utilities

  • Central Heating and Cooling System
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Legal Lot and Block 8 / 6
  • Tax Tract Number 2431
  • Assessor Parcel Number 7448021008
  • $478 per year additional tax assessments

Community Details

Building Details

  • 4 Leased Units
  • Rent Control
  • 4 Separate Electric Meters
  • 5 Separate Gas Meters
  • Gardener Expense $450
  • Other Expense $137
  • Pest Control $564
  • Water Sewer Expense $3,013
  • Operating Expense $4,164
  • Gross Income $51,300
  • Net Operating Income $47,136

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1981

Lot Details

4,801 Sq Ft Lot

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 3013.00
  • Zoning: LAR1
  • Property Type: Residential Income
  • Gardener Expense: 450.00
  • Parcel Number: 7448021008
  • Year Built: 1981
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Partial
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 302.63

Exterior Features

  • Fence: Yes
  • Fencing: Block
  • Pool Private: No
  • Roof: Flat, Rolled/Hot Mop
  • Spa: No

Garage/Parking

  • Carport Spaces: 4.00
  • Parking: Yes
  • Parking Features: Detached Carport
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven
  • Heating Type: Central
  • Laundry Features: Common Area, Community
  • Pest Control Expense: 564.00
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Gentle Sloping
  • Lot Size Sq Ft: 4801.00
  • Lot Size Acres: 0.1102

Rental Info

  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Gross Income: 51300.00
  • Gross Scheduled Income: 51300.00
  • Lot Size Area: 4801.0000 Square Feet
  • Net Operating Income: 47136.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 5
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Operating Expense: 4164.00
  • Other Expense: 137.00
  • Other Expense Description: Gas
  • Rent Control: Yes
  • Total Actual Rent: 4275.00
  • Total Expenses: 4164.00

Tax Info

  • Tax Block: 6
  • Tax Census Tract: 2965.00
  • Tax Lot: 8
  • Tax Tract Number: 2431
  • TaxOtherAnnualAssessmentAmount: 478.00

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 3, 2022
Closed on
Jan 25, 2022
Sold by
Bought by
Seller's Agent
George Leonard
Century 21 Coastal Properties
Buyer's Agent
Gary Krill
Compass
List Price
$950,000
Sold Price
$1,035,000
Premium/Discount to List
$85,000
8.95%
Current Estimated Value
$1,085,492

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$50,492
Avg. Annual Appreciation
1.09%
Original Mortgage
$776,250
Interest Rate
0.0355%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 3, 2004
Sold by
Bought by
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,035,000 Priority Title
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $776,250
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
02/25/2022 02/25/22 Sold $1,035,000 +8.9% $303 / Sq Ft
01/18/2022 01/18/22 Pending -- -- --
01/03/2022 01/03/22 For Sale $950,000 -- $278 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2025 $13,617 $1,098,349 $657,948 $440,401
2024 $13,436 $1,076,814 $645,048 $431,766
2023 $13,179 $1,055,700 $632,400 $423,300
2022 $6,198 $488,059 $136,645 $351,414
2021 $6,107 $478,490 $133,966 $344,524
2020 $6,162 $473,585 $132,593 $340,992
2019 $5,931 $464,300 $129,994 $334,306
2018 $5,829 $455,197 $127,446 $327,751
2016 $5,545 $437,524 $122,499 $315,025
2015 $5,467 $430,953 $120,659 $310,294
2014 $5,476 $422,512 $118,296 $304,216
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2022

    George Leonard

    Century 21 Coastal Properties

    Section Image

  • H

    Seller Co-Listing Agent in 2022

    Hayley Leonard

    Century 21 Coastal Properties

    Section Image
  • Gary Krill

    Buyer's Agent in 2022

    Gary Krill

    Compass

    (310) 994-3922

    155 Total Sales

    Gary Krill
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB21270582

California Regional Multiple Listing Service (CRMLS)

APN: 7448-021-008

California Los Angeles County San Pedro 90731

551 W Macarthur Ave, San Pedro, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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