521 W 16th Street W

    San Pedro, CA 90731
    • $609,000
    • STATUS: Closed
    • ON SITE: 95 days
    • ID#: PV19033569
    Sold - 05/01/2019
    $609,000
    SOLD - 05/01/2019
    • 0
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 1,985
      SQFT
    • $307
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1922
    County:
    Area:

    School Ratings & Info

    Description

    NEW PRICE, GREAT DEAL!! Very nice, very cute, Craftsman style, two building fourplex located in a quiet section of San Pedro. All termite repairs completed in February 2019, followed by a complete repaint of the exterior of both buildings. Both buildings will be fumigated after buyer removes all contingencies, followed by delivery of termite completion prior to close of escrow. Front building has 2 one bed, one bath units (approx 480SF each) Back building has 2 one bed, one bath (525 is approx 480SF) (527 is approx 545SF); all units have washer hookups. Parking is street, although there is a driveway on the west side of the lot, but currently blocked off by the gate to the property. I have met the tenants (all non smokers), they all seem very nice, and, per Properties West, pay their rents on time. TENANTS terms, (approx) +GG APT 521, 15 years +GG APT 523 (shown in photos) 1.5 years, APT 525 20+ years- APT 527 12 years +GG CAP RATE Est 5.1% - With this years rent increases CAP RATE 5.3%

    Sold by Bob Locke of West Shores Realty, Inc..

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-05-20T11:29:56.45. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.gogabby.com/homes/91791903

    521 W 16th Street W San Pedro, CA 90731

    • Price: $629,000
    • Status: Closed
    • Updated: 77 min ago
    • ID#: PV19033569
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.1
    Acres
    1,985
    SQFT
    $307
    $/SQFT
    1922
    Built
    Neighborhood:
    185 - Plaza
    County:
    Los Angeles
    Area:
    185 - Plaza
    Property Description
    NEW PRICE, GREAT DEAL!! Very nice, very cute, Craftsman style, two building fourplex located in a quiet section of San Pedro. All termite repairs completed in February 2019, followed by a complete repaint of the exterior of both buildings. Both buildings will be fumigated after buyer removes all contingencies, followed by delivery of termite completion prior to close of escrow. Front building has 2 one bed, one bath units (approx 480SF each) Back building has 2 one bed, one bath (525 is approx 480SF) (527 is approx 545SF); all units have washer hookups. Parking is street, although there is a driveway on the west side of the lot, but currently blocked off by the gate to the property. I have met the tenants (all non smokers), they all seem very nice, and, per Properties West, pay their rents on time. TENANTS terms, (approx) +GG APT 521, 15 years +GG APT 523 (shown in photos) 1.5 years, APT 525 20+ years- APT 527 12 years +GG CAP RATE Est 5.1% - With this years rent increases CAP RATE 5.3%
    Exterior Features

    Architectural Style Craftsman Garage Spaces 0.00 Lot Features 0-1 Unit/AcreFront YardGardenLawn Lot Size Dimensions 40X110 Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Roof Composition View None View YN No

    Interior Features

    Appliances DisposalGas Cooktop Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 1 Common WallNo One AboveNo One Below Cooling None Cooling YN No Flooring CarpetWood Heating Wall Furnace Heating YN Yes Interior Features Copper Plumbing FullCopper Plumbing Partial Laundry Features InsideWasher Hookup Levels One Room Type All Bedrooms DownKitchenLiving Room

    Property Features

    Accessibility Features 2+ Access Exits Additional Parcels YN No Building Area Units Square Feet Cap Rate 5.10 Community Features Sidewalks Country Us Electric Electricity - On Property Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 660.00 Gross Income 45264.00 Gross Multiplier 13.80 Gross Scheduled Income 45264.00 Gross Spendable Income 31528.00 Insurance Expense 924.00 Land Lease YN No Laundry YN Yes Net Operating Income 32054.00 New Construction YN No New Taxes Expense 7862.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 0 Number Of Units Leased 4 Number With Disposal 1 Number With Range 1 Number With Refrigerator 1 Operating Expense 13210.00 Operating Expense Percent 30.00 Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasRepairsTelephone Total Actual Rent 3772.00 Total Expenses 13210.00 Trash Expense 192.00 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 0 Water Sewer Expense 1600.00 Water Source Public Year Built Source Assessor Zoning Lard2

    Listing provided courtesy of Bob Locke of West Shores Realty, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-05-20T11:29:56.45. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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