Seller's Agent in 2020
Cynthia Burts
Burts & Associates
(310) 308-8003
13 Total Sales
723 W 11th St San Pedro, CA 90731
11
Beds
6
Baths
5,584
Sq Ft
4,843
Sq Ft Lot
Highlights
- Harbor Views
- Wrought Iron Fence
- Front Yard
- Laundry Room
- Rectangular Lot
About This Home
As of September 2020MAJOR $150,000 PRICE REDUCTION - Priced to Sell - Bring Offers. Located in Central San Pedro - 5 Unit Apartment Building - Value Add - Huge Upside in Rents. This 5 unit apartment building is located in a high demand rental area of San Pedro, California just blocks from San Pedro Plaza Park and a direct shot to the waterfront. This well-maintained property has an excellent unit mix consisting of (1) 3 bedroom townhouse style unit with 2 baths and (4) 2 bedroom 1 bath units. Each unit has it’s own 2 car garage. All earthquake soft story retrofitting has been completed and permitted. New commercial water heater with associated plumbing and a resealed flat roof. This value add deal has a tremendous upside in the rents in an area where this is a lack of rental inventory and strong demand for apartment assets. Two of the tenants are Section 8. San Pedro is seeing a massive redevelopment boom. There are many factors driving this influx in development, including the revitalization of the San Pedro waterfront that envisions a town square and attractions much like San Francisco’s Fisherman Wharf. Aside from just a lack of product, strong submarket rent growth and high occupancy figures are making San Pedro/Long Beach top targets for investors looking for value add deals. This renaissance will continue to drive housing demand and increase apartment values in the market.
Last Agent to Sell the Property
Burts & Associates License #01134271 Listed on: 03/09/2020
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1974
Lot Details
- 4,843 Sq Ft Lot
- 1 Common Wall
- Wrought Iron Fence
- Rectangular Lot
- Level Lot
- Sprinkler System
- Front Yard
Parking
- 10 Car Garage
- Parking Available
- Assigned Parking
Property Views
- Harbor
- Bridge
- City Lights
- Mountain
Home Design
- 5,584 Sq Ft Home
- Property Attached
- Flat Roof Shape
- Stucco
Bedrooms and Bathrooms
- 11 Bedrooms
- 6 Bathrooms
Laundry
- Laundry Room
Outdoor Features
- Exterior Lighting
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 12 / 24
- Tax Tract Number 2079
- Assessor Parcel Number 7454017012
Community Details
Building Details
- Rent Control
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,900
- Fuel Expense $2,881
- Gardener Expense $950
- Insurance Expense $2,700
- Maintenance Expense $2,600
- Pest Control $220
- Trash Expense $2,744
- Water Sewer Expense $3,000
- New Taxes Expense $17,023
- Operating Expense $35,518
- Gross Income $94,178
- Net Operating Income $58,660
Additional Features
- 5 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 |
|---|---|---|---|---|
| 09/03/2020 09/03/20 | Sold | $1,315,000 | -9.3% | $235 / Sq Ft |
| 08/26/2020 08/26/20 | Pending | -- | -- | -- |
| 03/09/2020 03/09/20 | For Sale | $1,450,000 | -- | $260 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Cynthia Burts
-
NoEmail NoEmail
N
Buyer's Agent in 2020
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
35 in this area
5,978 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR20053453
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