576 W 13th St, San Pedro, CA 90731 | For Sale

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For Sale $1,650,000

$1,650,000
  • (0)
  • Unknown Bedrooms
  • Unknown Bathrooms
  • Unknown Sq Ft
  • 5,001 Sq Ft

Description

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%!

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Amenities

Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt

Income

Rental Units


The income description goes here to explain

Expenses

Property Details

List Price $1,650,000
Property Type Condo/Co-Op
Usable Sqft Unknown
Number of Stories 2 stories
Parking Spots 0 spots
Year Built 1959
Last Sold Unknown
Sold Price Unknown
APN # 7454020007
MLS # SB24202185
Property ID 320905120
Lot Sqft 5,001
Zoning LARD1.5
Total Units 6
Days on Market 10
Original List Price $1,650,000
Date Updated October 02, 2024
Date Created September 29, 2024
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Our powerful mortgage calculator tools helps you estimate your potential mortgage payment on the purchase of a property. Use our tool to find the ideal combination of interest rates, downpayment and real estate purchase price to see the payment that best suits you. Please consult a licensed loan officer to be pre-approved for financing options.

Listing Provided By

L'mar Kojani an agent of . Lic #01970704


© 2024 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of October 02, 2024 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.



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