660 W 11th Street,  San Pedro CA, 90731 (Residential Income)

6,778 sqft
Status: Sold
MLS#: SB15246656
Skip Slideshow
Last Updated: 12/3/2016 11:59 PM
Description for 660 W 11th Street San Pedro, CA 90731
The subject property is an attractive 3 story apartment with 7 apartment units with a diverse unit mix of single, one bedroom, two bedrooms, and a large townhouse 3 bedroom 2.5 bath unit. Several of these units are still below market rents, and the property still offers positive cash flow at the asking price. On the top level there are nice views of the Bridge from San Pedro to Neighboring Port of Los angles and City of Long Beach which is expanding and improving and upgrading this famous town of San Pedro. The property was built in 1972 and is subject to City of LA Rent Control which allows an rents to increase once a year for 3%. Three of the units have been remodeled and rented for market rents withing the last 12 months of ownership. Since several of the remaining units are with long term tenancy, the vacancy rate could remain quite low and upon vacancy rents could be significantly raised for more profit for the new ownership. There is a gated parking garage & seller owned coin laundry machines. Assessor's records show 8 units however it is being run like a 7 unit. This property is one of the only listing in this price range, location and category that is affordable to local investors and will not last forever.
Price
Sold Price:
$1,375,000
Sold Date:09/30/2016
Los Angeles
6,778 (approx)
SB15246656
Closed
Description
The subject property is an attractive 3 story apartment with 7 apartment units with a diverse unit mix of single, one bedroom, two bedrooms, and a large townhouse 3 bedroom 2.5 bath unit. Several of these units are still below market rents, and the property still offers positive cash flow at the asking price. On the top level there are nice views of the Bridge from San Pedro to Neighboring Port of Los angles and City of Long Beach which is expanding and improving and upgrading this famous town of San Pedro. The property was built in 1972 and is subject to City of LA Rent Control which allows an rents to increase once a year for 3%. Three of the units have been remodeled and rented for market rents withing the last 12 months of ownership. Since several of the remaining units are with long term tenancy, the vacancy rate could remain quite low and upon vacancy rents could be significantly raised for more profit for the new ownership. There is a gated parking garage & seller owned coin laundry machines. Assessor's records show 8 units however it is being run like a 7 unit. This property is one of the only listing in this price range, location and category that is affordable to local investors and will not last forever.
Listing Information
Property Type: Cluster, Contemporary
0.15 Acres 675,200 sq.ft. 6,778 (approx)
$202.86 1976
Yes- 8 spaces Stucco
Raised Foundation
8 Total
Neighborhood
Room Information
Common, Hookups in Garage
Low-Flow Shower, Low-Flow Toilet
Interior Features
Dishwasher, Electric Oven, Electric Range/Cooktop, Garbage Disposal, Carbon Monoxide Detector
Hardwood, Carpet and Other, Vinyl
Ceiling Fan(s)
Electric Heating, Radiant
Part Copper Plumbing
No Fireplace
Alarm -Smoke/Fire,
Tile Counter Top
Exterior / Lot Features
8 Garage Spaces, 9 Parking Spaces, Handicap Parking, Assigned Parking Space, Garage
Stucco
Balcony
Composition, Concrete, Shingle
Block
Sidewalks, Street Lights, Curbs Walk
Driving Directions
Cross Streets: 11th & Gaffey Street
Financial Considerations
7454013019
$113,592 Income ,$39,912Expense
Listing Price History

San Pedro Real Estate

San Pedro is located in California. San Pedro, California 90731 has a population of 79,165.

The median household income in San Pedro, California 90731 is $67,991. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in San Pedro 90731 is 41 years.

Loading nearby sales and history ...
Courtesy: TR Wealth Management Inc. William Mulkey
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Information is deemed reliable but is not guaranteed.

Ask a Question?
Send Now
Start a no spam email conversation
My Drive Time
Enter your work address to view actual drive times with traffic for this property

No    Yes

Calculate & Save Calculating ...
Calculating ...
Here is the weekday INRIX Drive Time from this property to .

When you register, you will receive ...

Weekday drive times
Plus all these great features

  • Drive Time calculations that inform you about traffic conditions from the property you are interested in to your place of work, along with driving directions.
  • Automatic Drive Time calculations for every property. Simply enter your work address to start.
  • Access to INRIX Drive Time data that is used by Garmin, Pioneer, Toyota, and many other well-known companies.
  • Other benefits from being a registered user including: saved properties, saved searches, price alerts, notes, direct access to your agent and much more!

Register or login today to take advantage of Drive Time
Nearby homes for sale
Recent sales nearby