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966 W 11th Street

San Pedro, CA 90731
  • $3,725,000
  • STATUS: Active Under Contract
  • ON SITE: 77 Days
  • ID#: 22179039
Under Contract
UPDATED: 29 min ago
$3,725,000
  • 24
    BEDS
  • 0.28
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 13,014
    SQFT
  • $286
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1973
County:

School Ratings & Info

Listing Agent(s): Gianluca Jacoli of Shield Cre, Inc. (310-593-9869)


Description

966 W 11th Street is a 16 Unit Near Downtown San Pedro. The property totals 13,014-square feet and sits on a 12,151-square foot lot. The subject property is being offered at $286.23/PSF and at $232,81/Per Unit. The subject property has roughly 33% in rental upside. Parking consists of 17 gated entry spaces. Three units are Section 8 tenants and there are currently two vacancies. The Unit Mix consists of (9) 1-Bd/1-Ba units, (3) 2-Bd/2-Ba units, (3) 2-Bd/1-Ba units, and (1) 3-Bd/2-Ba unit. This is a unique opportunity to purchase a large multifamily asset located in the rapidly growing San Pedro sub-market. Property is under Los Angeles Rent Control. To the best of our knowledge it is worth noting that there are several non-paying tenants.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-30T17:36:27.633. 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 Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
www.tolivebythesea.com/homes/130914115
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966 W 11th Street San Pedro, CA 90731

  • Price: $3,725,000
  • Status: Active Under Contract
  • On Site: 77 Days
  • Updated: 29 min ago
  • ID#: 22179039
24
Beds
0
Baths
0
½ Baths
0.28
Acres
13,014
SQFT
$286
$/SQFT
1973
Built
Neighborhood:
183 - Vista Del Oro
County:
Los Angeles
Area:
183 - Vista Del Oro
Property Description
966 W 11th Street is a 16 Unit Near Downtown San Pedro. The property totals 13,014-square feet and sits on a 12,151-square foot lot. The subject property is being offered at $286.23/PSF and at $232,81/Per Unit. The subject property has roughly 33% in rental upside. Parking consists of 17 gated entry spaces. Three units are Section 8 tenants and there are currently two vacancies. The Unit Mix consists of (9) 1-Bd/1-Ba units, (3) 2-Bd/2-Ba units, (3) 2-Bd/1-Ba units, and (1) 3-Bd/2-Ba unit. This is a unique opportunity to purchase a large multifamily asset located in the rapidly growing San Pedro sub-market. Property is under Los Angeles Rent Control. To the best of our knowledge it is worth noting that there are several non-paying tenants.
Exterior Features

Direction Faces West Entry Location Ground Level W/Steps Parking Features Controlled EntranceCoveredDrivewayElectric GateCommunity Structure Parking Total 17 Pool Features None Pool Private YN No Spa Features None Spa YN No

Interior Features

Appliances DishwasherRefrigeratorDryerWasher Cooling None Cooling YN No Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Cap Rate 5.02 Garage YN Yes Gross Income 291228 Gross Scheduled Income 384600 Laundry Features Common Area Listing Agreement Probate Listing Service Full Service Net Operating Income 186888 New Construction YN No Rent Control YN Yes Security Features Security Gate Senior Community YN No Special Listing Conditions Probate Listing Vacancy Allowance Rate 2 Zoning Lard2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-30T17:36:27.633. 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 Beach City Brokers | BCB Premier Estates | The Miller Group. Licensed in the State of California, USA.
 
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Beach City Brokers | BCB Premier Estates | The Miller Group
1716 South Catalina Avenue
Redondo Beach CA, 90277
Listing Agent(s): Gianluca Jacoli of Shield Cre, Inc. (310-593-9869)