$1,450,000
$200K PRICE DROP

576 W 13th St San Pedro, CA 90731

Estimated payment $9,115/month

Total Views 231,830
2 Beds
1 Bath
4,664 Sq Ft
$311 Price per Sq Ft

Highlights

  • Fishing
  • Hiking Trails
  • Laundry Room

About This Home

Step into a rare opportunity to invest in the vibrant community of San Pedro with this well-maintained 6-unit apartment building at 576 W 13th St. Each unit offers efficiently designed two-bedroom, one-bath layouts, providing a balance of comfort and functionality. The property features tuck-under parking and has recently completed a soft-story retrofit, enhancing structural safety and ensuring long-term durability.

Located in a high-demand rental market with vacancy rates around 4.5%, this property presents a substantial rental upside—with potential rent growth of up to 40% as units become available. A new owner can also benefit from additional income through on-site parking fees. The building includes an onsite laundry facility, offering convenience to tenants and adding to the property's appeal.

Just a few blocks away is the anticipated 42-acre San Pedro West Harbor Project, a $170 million waterfront development that will feature a 6,200-seat amphitheater, along with premier dining, retail, and entertainment options. This redevelopment is poised to transform the local area and has the potential to enhance property values as it becomes a central lifestyle destination in Los Angeles.

San Pedro combines coastal charm with urban accessibility, known for its quaint neighborhoods, vibrant arts scene, and rich maritime history. Residents enjoy proximity to beaches, waterfront promenades, and attractions like the Battleship USS Iowa Museum and the Cabrillo Marine Aquarium. The area offers a lively restaurant and shopping scene, providing a blend of small-town ambiance with big-city amenities.

This property offers an excellent balance of immediate income and long-term appreciation potential, making it ideal for investors looking to expand their portfolio in a growing market.

Don’t miss out on this opportunity to own a solid, income-producing asset with a projected cap rate above 7%!

Listing Agent

L'mar Kojani

Keller Williams Los Angeles Brokerage Phone: 310-733-6819 License #01970704 Listed on: 10/01/2024

Keller Williams Los Angeles

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 5,001 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 4,664 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Parking

  • 6 Parking Spaces
  • 6 Carport Spaces

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Legal Lot and Block 7 / 11
  • Tax Tract Number 60
  • Assessor Parcel Number 7454020007
  • $986 per year additional tax assessments
  • Seller Considering Concessions

Community Details

Recreation

  • Fishing
  • Park
  • Dog Park
  • Hiking Trails
  • Bike Trail

Building Details

  • Rent Control
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 6 Separate Water Meters
  • Operating Expense $56,311
  • Gross Income $109,824
  • Net Operating Income $53,513

Additional Features

  • 6 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Price Per Unit: 241667
  • Property Attached: Yes
  • Zoning: LARD1.5
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 7454020007
  • Year Built: 1959
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: Ground
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 310.89

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Dog Park, Fishing, Hiking, Park, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 5001.00
  • Lot Size Acres: 0.1148

Multi Family

  • Gross Income: 109824.00
  • Gross Scheduled Income: 109824.00
  • Lot Size Area: 5001.0000 Square Feet
  • Net Operating Income: 53513.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6
  • Number Of Units Total: 6
  • Operating Expense: 56311.00
  • Rent Control: Yes
  • Total Expenses: 56311.00

Tax Info

  • Tax Block: 11
  • Tax Census Tract: 2969.02
  • Tax Lot: 7
  • Tax Tract Number: 060...
  • TaxOtherAnnualAssessmentAmount: 986.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/13/2025 03/13/25 Price Changed $1,450,000 -12.1% $311 / Sq Ft
10/01/2024 10/01/24 For Sale $1,650,000 +15.8% $354 / Sq Ft
03/31/2020 03/31/20 Sold $1,425,000 -4.7% $306 / Sq Ft View Prior Sale
01/31/2020 01/31/20 Pending -- -- --
01/29/2020 01/29/20 For Sale $1,495,000 -- $321 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

About the Listing Agent

L'mar Kojani

Keller Williams Los Angeles

(424) 349-4850

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L’mar focuses on acquisitions and dispositions of investment property throughout Los Angeles and North Orange County. Having grown up in a family of real estate developers in the South Bay, L'Mar has been involved in this industry his entire life. He and his family have decades of experience in real estate development from building homes in the South Bay beach cities and Beverly Hills to developing a distribution and logistics hub for their clothing manufacturing company. L'Mar's extensive

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB24202185

California Regional Multiple Listing Service (CRMLS)