576 W 13th Street,San Pedro, CA 90731
San Pedro, CA 90731
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 upsidewith 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%!
Details
| MLS# | SB24202185 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1959 |
| Days On Site | 210 |
| Listing Provided By | Keller Williams South Bay 310-375-3511 | L'mar Kojani |
Features
| SQ Feet | 4,664 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 6 |
| Building(s) | 1 |
| Zoning | LARD1.5 |
| Acreage | 0.11 |
Market Activity 90731
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | San Pedro |
| Zip Code | 90731 |
| Area | 185 Plaza |
| Listing VS Median (in 90731) | |
Price: $1,450,000 low | high Med: $1,250,000 SqFt: 4,664 low | high Med: 3,284 $ / SqFt: $311 low | high Med: $381 On site: 210 low | high Med: 267.000000 | |