601 W 13Th Street $1,949,000

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    601 W 13Th Street San Pedro, CA 90731

    • 0 Beds
    • 0 Baths
    • 5,331 sq. ft.
    • Multi-Family
    • MLS# 20655444
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    Views: 164 Days On Market: 114

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    Property Details

    A unique, plus one opportunity for a savvy Buyer. This 9 unit property was, in the past, operated as a 10 unit. It currently has a Studio unit that is CURRENTLY IN THE PROCESS OF BEING REGISTERED as an Additional Dwelling Unit (aka ADU). This additional income should bump up the gross income as much as an additional $18,000 per year. Buyer to verify. This nice, 9,000 square foot corner lot location is walking distance to the $150MM, San Pedro Waterfront Redevelopment anchored by Gladstones. 150K square feet of retail and dining, 30K of office, and 89K square feet of existing wharf and floating dock space. The property has been upgraded, as needed, as units have turned over new windows and refurbished interiors. An almost 5% cap opportunity day one and 6.3% on market rents AND THEN OVER A 7% CAP PROFORMA WITH THE ADDITION OF POTENTIAL ADU INCOME.

    Contact

    Matt  Cox

    Matt Cox

    Global Real Estate Advisor

    DRE# 02076282

    Malaga

    Mobile Phone: 903-815-3088

    Neighborhood

    90731 (San Pedro) Demographics

    36 Median Age
    6,635 Population Density (per sq. mile)
    31% College Educated
    $48,697 Estimated Median Income
    6,887 Estimated Total Home Owners
    15,392 Estimated Total Renters
    31% / 69% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    61,046 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $801,000 Median Sales Price
    21 Homes Sold
    36 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $1,949,000
        2/11/2021 10:25:22 AM Price Reduced Source New Value: $1,949,000 -7.15%
        11/4/2020 11:57:00 AM New in Database Source New Value: $2,099,000

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        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 2/26/2021 2:31:05 AM. 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.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.