357 W 9TH Street

    San Pedro, CA 90731
    • $2,399,000
    • STATUS: Pending
    • ON SITE: 132 days
    • ID#: 19463592
    Pending
    UPDATED: 59 min ago
    $2,399,000
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,800
      SQFT
    • $308
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1975
    County:
    Area:

    School Ratings & Info

    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.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T19:45:58.153. 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 or J1 REALTY GROUP. Licensed in the State of California, USA.
    www.j1re.com/homes/94555944

    357 W 9TH Street San Pedro, CA 90731

    • Price: $2,399,000
    • Status: Pending
    • Updated: 59 min ago
    • ID#: 19463592
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    7,800
    SQFT
    $308
    $/SQFT
    1975
    Built
    Neighborhood:
    185 - Plaza
    County:
    Los Angeles
    Area:
    185 - Plaza
    Property 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.
    Exterior Features

    Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage Parking YN Yes

    Interior Features

    Cooling None Cooling YN No

    Property Features

    Cap Rate 4.88 Electric Expense 8160.00 Gross Multiplier 15.64 Gross Operating Income 159732.00 Insurance Expense 2300.00 Maintenance Expense 5235.00 Net Operating Income 121917.00 Operating Expense 1600.00 Special Listing Conditions Standard Sprinklers YN No Total Expenses 47783.00 Zoning Lard1.5

    Listing provided courtesy of Brice Head of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-18T19:45:58.153. 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 or J1 REALTY GROUP. Licensed in the State of California, USA.
     
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