$770,000
$789,000
2.4%For more information regarding the value of a property, please contact us for a free consultation.
647 W 5th ST San Pedro, CA 90731
6,044 SqFt
Key Details
Sold Price $770,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,044 sqft
Price per Sqft $127
MLS Listing ID PV13057677
Sold Date 06/27/13
HOA Y/N No
Year Built 1918
Tax Year 2011
Lot Size 5,009 Sqft
Acres 0.115
Property Description
CAP RATE 6.1% BASED ON RENTS AS OF 06/01/13 - CLASSIC 1918, 8 UNIT BUILDING (6 ONE BED, 2 STUDIO) IN VERY GOOD CONDITION - MANY UNITS HAVE NEWER HARDWOOD/ENGINEERED FLOORS AND NEWER PAINT - HALLWAYS AND STAIRWELLS HAVE NEW CARPETS AND PAINT (4/13)- ALL UNITS ARE SEPARATELY METERED FOR GAS AND ELECTRIC - OWNER PAYS WATER - - -***AVAILABLE ON REQUEST; RECENT (3/13/13) BUILDING INSPECTION REPORT (INCLUDES SEWER) AND MORE PHOTOS**** EARTHQUAKE RETROFIT, NEW ELECTRICAL AND COPPER PLUMBING WERE INSTALLED AROUND 1997 - A NEW ROOF WAS INSTALLED ABOUT 6 YEARS AGO - ONE UNIT JUST WENT VACANT, READY TO RENT BY 4/30/13, CURRENT TENANCY RANGES FROM ONE TO FIFTEEN YEARS - EASY TO RENT - VACANCY RATE IS 5% - LAUNDRY PRODUCES APPROXIMATELY $1200 PER YEAR INCOME - OFFERS ARE SUBJECT TO INSPECTION - DO NOT DISTURB TENANTS - BUYER AGREES TO 1031 EXCHANGE AT NO COST TO BUYER - AT PRO FORMA RENT RATES STATED, WHICH ARE THE CURRENT HIGH RENT RATES ($825 ONE BEDROOM, $620 STUDIO), CAP RATE IS 6.66%
Location
State CA
County Los Angeles
Area 189 - Barton Hill
Rooms
Ensuite Laundry Common Area
Interior
Interior Features Multiple Staircases
Laundry Location Common Area
Heating Wall Furnace
Fireplace No
Appliance Dryer
Laundry Common Area
Exterior
Pool None
Community Features Curbs
Utilities Available Sewer Connected
Total Parking Spaces 2
Private Pool No
Building
Lot Description Back Yard
Story Two
Entry Level Two
Water Public
Level or Stories Two
Others
Tax ID 7451029006
Acceptable Financing Contract, Item1031Exchange
Listing Terms Contract, Item1031Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Lisa Burns-Pearce • Arico & Associates
GUIDE SoCal
Broker | License ID: DRE#01976964