Active
576 W 13th Street
San Pedro CA, 90731
$1,650,000
$353.77 per sqft
Active
4,664 sqft
Condo
Built in 1959
Listed by L'mar Kojani with Keller Williams South Bay 310-733-6819
Step into a rare opportunity to invest in the vibrant community of San Pedro with this well-maintained 6-unit apartment building at 576 W 13th St. Each unit offers efficiently designed two-bedroom, one-bath layouts, providing a balance of comfort and functionality. The property features tuck-under parking and has recently completed a soft-story retrofit, enhancing structural safety and ensuring long-term durability.
Located in a high-demand rental market with vacancy rates around 4.5%, this property presents a substantial rental upside--with potential rent growth of up to 40% as units become available. A new owner can also benefit from additional income through on-site parking fees. The building includes an onsite laundry facility, offering convenience to tenants and adding to the property's appeal.
Just a few blocks away is the anticipated 42-acre San Pedro West Harbor Project, a $170 million waterfront development that will feature a 6,200-seat amphitheater, along with premier dining, retail, and entertainment options. This redevelopment is poised to transform the local area and has the potential to enhance property values as it becomes a central lifestyle destination in Los Angeles.
San Pedro combines coastal charm with urban accessibility, known for its quaint neighborhoods, vibrant arts scene, and rich maritime history. Residents enjoy proximity to beaches, waterfront promenades, and attractions like the Battleship USS Iowa Museum and the Cabrillo Marine Aquarium. The area offers a lively restaurant and shopping scene, providing a blend of small-town ambiance with big-city amenities.
This property offers an excellent balance of immediate income and long-term appreciation potential, making it ideal for investors looking to expand their portfolio in a growing market.
Don't miss out on this opportunity to own a solid, income-producing asset with a projected cap rate above 7%!
SB24202185
MLSⓇ ID
October 1, 2024
Listed
October 4, 2024
Updated
Map
576 W 13th Street
San Pedro CA, 90731
Interior Features
Total Stories
2
Laundry Description
Common Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.11 Acres
Lot Features
0-1 Unit/Acre
Sewer
Public Sewer
Other Property Details
Area Name
185 - Plaza
Days on Market
1
Garage
No
Parking Total
6
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LARD1.5
Listing Contact: 310-375-3511
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/4/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 10/4/2024 at 4:54 AM UTC