Seller's Agent in 2022
David Holstein
The Holstein Group
(310) 891-3339
2 in this area
11 Total Sales
650 W 7th St San Pedro, CA 90731
3
Beds
3
Baths
3,700
Sq Ft
5,001
Sq Ft Lot
About This Home
As of December 2022Value added opportunity situated in one the most dynamic growing cities within Southern California. The Subject Property was built in 1988 and is exempt from LA City Rent Control (California does have a Statewide cap on rent increases whereby an annual increase of 10% (SB1482) is permissible.
Consisting of a functional and useful mix of 4 studios, 1 Bedroom, and a 2 Bedroom apartment, this complex will provide an investor a great opportunity to for a strong year-round occupancy while growth in income. Several of the apartments face 7th St and has plenty of natural light with great windows.
Parking is covered, utilities are separately metered for Gas and Electric. Central Hot Water Heater and Laundry Room.
Since this property was built in the 1980's, less headaches for an investor. Several units were turned over in the last 3-4 years and have been upgraded.
Why Purchase: This asset should/could/may provide an investor with immediate cash at List Price with potential of 10% annual increases with the expectation of minimal move outs due to the existing low rents. Thus, ease of ownership, low expenses, and value-added opportunity...
Special consideration for an investor is the massive and unprecedent growth and development in the city of San Pedro - including the Billions being spent on the waterfront retail project as well as the super high end housing projects - all within reasonable walking distance from the Subject Property.
1st Thursdays are also back. Make sure to take your client by the property and walk a few blocks to the huge festivities on the 1st Thursday of each month.
Last Agent to Sell the Property
The Holstein Group License #01210777 Listed on: 06/27/2022
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1988
Lot Details
- 5,001 Sq Ft Lot
- 1 Common Wall
- Density is up to 1 Unit/Acre
Parking
- 7 Car Garage
Home Design
- 3,700 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Additional Features
- Laundry Room
- Private Sewer
Listing and Financial Details
- Legal Lot and Block 20 / 8
- Tax Tract Number 20
- Assessor Parcel Number 7451036015
Community Details
Building Details
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $650
- Fuel Expense $88
- Insurance Expense $2,750
- Maintenance Expense $4,500
- Pest Control $500
- Professional Management Expense $500
- Supplies Expense $500
- Trash Expense $1,900
- Water Sewer Expense $3,500
- New Taxes Expense $17,225
- Operating Expense $32,764
- Net Operating Income $32,764
Additional Features
- 6 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/16/2022 12/16/22 | Sold | $1,250,000 | 0.0% | $338 / Sq Ft |
| 09/27/2022 09/27/22 | Price Changed | $1,250,000 | -5.7% | $338 / Sq Ft |
| 08/31/2022 08/31/22 | Price Changed | $1,325,000 | -5.4% | $358 / Sq Ft |
| 08/06/2022 08/06/22 | Price Changed | $1,400,000 | -3.4% | $378 / Sq Ft |
| 07/20/2022 07/20/22 | Price Changed | $1,450,000 | -3.3% | $392 / Sq Ft |
| 06/27/2022 06/27/22 | For Sale | $1,500,000 | -- | $405 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 |
|---|---|---|---|---|
| 2025 | $16,363 | $1,300,500 | $832,320 | $468,180 |
| 2024 | $16,363 | $1,275,000 | $816,000 | $459,000 |
| 2023 | $16,059 | $1,250,000 | $800,000 | $450,000 |
| 2022 | $10,195 | $784,149 | $457,424 | $326,725 |
| 2021 | $10,063 | $768,774 | $448,455 | $320,319 |
| 2019 | $9,784 | $753,273 | $435,154 | $318,119 |
| 2018 | $9,680 | $738,647 | $426,622 | $312,025 |
| 2017 | $9,438 | $717,007 | $418,257 | $298,750 |
| 2016 | $9,206 | $702,949 | $410,056 | $292,893 |
| 2015 | $9,081 | $692,391 | $403,897 | $288,494 |
| 2014 | $9,111 | $678,829 | $395,986 | $282,843 |
Source: Public Records
Agents Affiliated with this Home
-
David Holstein
-
Sam Sidhu
S
Buyer's Agent in 2022
Sam Sidhu
Rockview Inc.
(310) 517-9081
1 in this area
4 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB22139953
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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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