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Listing 17 out of 169
$2,399,000 For Sale

357 W 9th Street
San Pedro, CA 90731

8 units | Multi Family Home
8960 sq ft lot - MLS# 19463592
Property Photo
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Description

2 contiguous, 4 unit properties (2 APNs) comprising a fully-gated and secured 8 unit property. The buildings have very large units averaging almost 1,000 square feet each. The large 4 Bed units have a private yard and the other units enjoy the use of private balconies. The entire asset was tented and section 1 termite work completed, recently. In addition, new water heaters were recently installed. Also, the property's rental income is largely guaranteed every month. All units are Section 8, which means the income comes early every month without fail. Even better, all units are eligible for an increase - the allowable "city of LA" increase for 2019-2020 is 4%. And if you got rents to the maximum allowable, by Section 8, you'd be clicking along at over a 6% cap.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 90731
  • Year Built: 1975
  • Units: 8 units
  • Lot Size: 8960 sq ft lot
  • Zoning: LARD1.5
  • Area: 185 - Plaza
  • Building Area Total: 7800.00
  • Cap Rate: 4.88
  • Directions: Take 110 Freeway S to N Gaffey Street, continue on N Gaffey Street to W 9th Street
  • Electric Expense: 8160.00
  • Gross Multiplier: 15.64
  • Gross Operating Income: 159732.00
  • Insurance Expense: 2300.00
  • Listing Agent License: 01330706
  • Listing Office License: 00530854
  • Lot Features: Sprinklers None
  • Lot Size Area: 8960.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CL
  • Maintenance Expense: 5235.00
  • Net Operating Income: 121917.00
  • Number Of Buildings: 2
  • Operating Expense: 1600.00
  • Parking Features: Garage
  • Parking YN: Yes
  • Stories Total: 2
  • Total Expenses: 47783.00
Courtesy of Marcus & Millichap, Brice Head

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Sheri McHale-Moody
RE/MAX Estate Properties

1416 W. 25th St
San Pedro, CA 90732
Phone: 310-940-1516
Email: sherimoody10@gmail.com

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