970 964 W Santa Cruz Street
San Pedro, CA 90731
- – beds
- – baths
- – sqft
- 12,998 sqft lot
- 1979 build
- – on site
More homes
Very nice 10-unit apartment complex with excellent curb appeal in a Great Location in San Pedro West of Gaffey! Great opportunity to own a well-maintained stable investment property with a Certificate of Occupancy from 1979, so it is NOT SUBJECT TO CITY OF LOS ANGELES RENT CONTROL!!! There are 2 side by side, mirror image 5-unit buildings on 2 separate parcels, each building is 2 stories with: 3 two-bedroom units and 2 one-bedroom units. Tenants pay for gas and electric. There is significant upside in rental income as the current rents are well below actual market rents. All units are currently occupied, with one upcoming move-out, and most are due for a RENT INCREASE IMMEDIATELY! Owner had 100% rent collections each of the past 4 years. Meticulously maintained by the current owner, making it a turn key investment with cash flow at close of escrow! Upgrades include new windows, new siding, paint, roof, landscape/hardscape. Several units have had the interiors upgraded with stone counters in kitchens and bathrooms, new appliances, new kitchen and bathroom cabinets and flooring. There is a huge open parking area in back with (16 spaces within 8 tandem stalls, plus 2 more behind each building), storage area on one the side, and 2 laundry rooms onsite. Rent shown is PROFORMA based on the rent increase of 8% based on the current formula of 5% plus CPI. Seller has preliminary plans for two ADU's for potential additional income! Buyer to verify status of ADU with City of Los Angeles and feasibility. This is the best priced apartment building on the market that is not subject to City RSO! Lot is very large (12,998 square feet) zoned R3 which could provide additional development potential in the future. This one won't last long. Seller will cooperate with Buyer in a 1031 Exchange. One unit recently became available.
Last checked:
As a licensed real estate brokerage, Estately has access to the same database professional Realtors use: the Multiple Listing Service (or MLS). That means we can display all the properties listed by other member brokerages of the local Association of Realtors—unless the seller has requested that the listing not be published or marketed online.
The MLS is widely considered to be the most authoritative, up-to-date, accurate, and complete source of real estate for-sale in the USA.
Estately updates this data as quickly as possible and shares as much information with our users as allowed by local rules. Estately can also email you updates when new homes come on the market that match your search, change price, or go under contract.
Checking…
•
Last updated Feb 29, 2024
•
MLS# SB23114916 —
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/29/24
Feb 29, 2024
|
Sold | CRMLS_CA | $2,760,000 | -4.8% |
|
1/30/24
Jan 30, 2024
|
Pending | CRMLS_CA | $2,898,000 | |
|
1/9/24
Jan 9, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $2,898,000 |