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    647 W 5th Street

    San Pedro, CA 90731
    • $1,400,000
    • STATUS: Active
    • ON SITE: 144 days
    • ID#: PW20240620
    $1,400,000
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,044
      SQFT
    • $232
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1918
    County:

    School Ratings & Info

    Description

    The property is located near the intersection of Gaffey Street and 5th Street down the block from a Starbucks, a Rite Aid, and several restaurants. The property+GGs proximity to retail has earned it a WalkScore of 89. Additionally, the building is four blocks from a new luxury 301-unit apartment building and less than a mile from the West Harbor (formerly known as San Pedro Public Market) development site. 647 West 5th Street is a 1918 construction with eight one-bedroom/one-bath units that are separately metered for gas and electricity. The building also offers on-site laundry and an underutilized back patio. This offering presents a great opportunity for an investor to acquire an asset in a dense, redeveloping rental market and capture over 20 percent rental upside.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-10T00:28:37.443. 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 Team Forss Realty Group. Licensed in the State of California, USA.
    www.teamforss.com/homes/111921942
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    647 W 5th Street San Pedro, CA 90731

    • Price: $1,400,000
    • Status: Active
    • ID#: PW20240620
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    6,044
    SQFT
    $232
    $/SQFT
    1918
    Built
    Neighborhood:
    189 - Barton Hill
    County:
    Los Angeles
    Area:
    189 - Barton Hill
    Property Description
    The property is located near the intersection of Gaffey Street and 5th Street down the block from a Starbucks, a Rite Aid, and several restaurants. The property+GGs proximity to retail has earned it a WalkScore of 89. Additionally, the building is four blocks from a new luxury 301-unit apartment building and less than a mile from the West Harbor (formerly known as San Pedro Public Market) development site. 647 West 5th Street is a 1918 construction with eight one-bedroom/one-bath units that are separately metered for gas and electricity. The building also offers on-site laundry and an underutilized back patio. This offering presents a great opportunity for an investor to acquire an asset in a dense, redeveloping rental market and capture over 20 percent rental upside.
    Exterior Features

    Garage Spaces 0.00 Lot Features Rectangular Lot Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    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 No Common Walls Laundry Features Community

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.93 Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Multiplier 12.67 Gross Scheduled Income 110476.00 Insurance Expense 0.00 Land Lease YN No Laundry Income 1401.00 Laundry YN Yes Net Operating Income 68971.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 8 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 0 Operating Expense 41073.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 41073.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker and David O'keefe of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-10T00:28:37.443. 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 Team Forss Realty Group. Licensed in the State of California, USA.
     
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