Sold for $1,062,000 on Apr 24, 2019
The property presents an outstanding investment opportunity with a projected rental upside of 22% +/- ! This is a great find for both new and seasoned apartment investors, and provides a great way to step into the hot San Pedro market, or to add on to an existing rental portfolio. This large, 4,547 square foot building features spacious and well laid out units, with a mix of 1 Three Bed/2 Bath unit and 3 Two Bed/ One Bath units. The property is situated on a 5,996 square foot lot and provides one garage space per unit, which are not subject to any City of Los Angeles soft-story retrofit requirements. Units are separately metered for gas and electricity, and the building also provides an on-site laundry room for tenant convenience. Each unit has their own water heater, of which, three are located in the laundry room for easy access. There is also a community patio on the top floor where tenants can relax and enjoy the sun or sea breeze! With so much recent development taking place in San Pedro, the local area is undergoing a complete transformation. Walking distance to the highly-anticipated Waterfront Redevelopment, which will change the harbor for years to come! Also nearby is downtown San Pedro, which features a unique mix of shops, restaurants, art galleries, theaters, and more. Year after year, an influx of new shops and attractions continues to enhance the San Pedro landscape, which any prospective owner â or tenant â of 358 West 17th is sure to appreciate.
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