647 W 5th Street, San Pedro, CA 90731

$1,600,000
6,044
SqFt
List Price
$1,600,000
Status
ACTIVE
MLS#
PW20240620
Year Built
1918
Living Sq. Ft
6,044
Lot Size
5,002
Acres
0.1148
Lot Location
Rectangular Lot
Days on Market
12
Property Type
Multifamily

Property Description

The property is located near the intersection of Gaffey Street and 5th Street down the block from a Starbucks, a Rite Aid, and several restaurants. The property’s proximity to retail has earned it a WalkScore of 89. Additionally, the building is four blocks from a new luxury 301-unit apartment building and less than a mile from the West Harbor (formerly known as San Pedro Public Market) development site. 647 West 5th Street is a 1918 construction with eight one-bedroom/one-bath units that are separately metered for gas and electricity. The building also offers on-site laundry and an underutilized back patio. This offering presents a great opportunity for an investor to acquire an asset in a dense, redeveloping rental market and capture over 20 percent rental upside.

Additional Information

Tract Number
N/A
Lot Description
Urban
Pool Description
None
Sewer
Public Sewer
Water
Public
Attached Structure
Detached
Number Of Units Total
8
Gross Scheduled Income
$110,176
Operating Expense
44604
Unit One Total Units
8
Unit One Beds
1
Unit One Baths
1
Unit One Actual Rent
1148.00
Unit One Total Rent
9181.00
Unit One Pro Forma
1400
Unit One Furnished
Unfurnished

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

Listing courtesy of Steven Bogoyevac from Steven M. Bogoyevac, Broker

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.