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Sold – 3-Unit Building in San Pedro | $950,000

Sold – 3-Unit Building in San Pedro | $950,000

Congratulations to Brett Lyon and Woody Stahl of Lyon | Stahl Investment Real Estate for closing 667 W 11th St, a 3-unit apartment building located in San Pedro.

This well-maintained property is situated on 6,751 SF of land and boasts an excellent unit mix consisting of one (1) 4-bed/2-bath and two (2) 2-bed/1-bath units for a total of 3,540 SF of living space. Located just blocks from the ocean, this property features a 3-car garage in back, a large driveway for additional parking, beautifully renovated units, and large balcony overlooking the backyard. Currently, fully leased out, this property still has the ability to increase by almost 20% in market rent potential, making it an incredible investment for an investor looking to acquire stable assets.

 

Investment Highlights:

  • Well-maintained & recently renovated 3-unit building
  • 3,540 SF building situated on 6,751 SF of land
  • Desirable unit mix consisting of (1) 4-bed/2-bath & (2) 2-bed/1-bath units
  • Operating at a 5.12% CAP & 13.42 GRM | Pro Forma 6.50% CAP – 11.23 GRM
  • Features a large driveway, 3-car garage, and large balcony
  • Market rent potential to increase rents nearly 20%

 

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County Overview:

The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. The metropolis – formed by the six neighboring counties of Los Angeles, Ventura, Kern, San Bernardino, Riverside, and Orange – is home to approximately 19 million residents. Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates. Los Angeles County has the largest population of any county in the nation, exceeded only by eight states. According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County’s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce.

● Los Angeles County is the world’s 18th largest economy.
● Los Angeles part of the “Tech Coast” and is regarded as the of the main entrepreneurial regions of the world. It has approximately 200,000 small businesses, which is twice as many small businesses as can be found in any other region of the United States.
● If Los Angeles’ five county area were a state, it would be the fourth largest in the United States.
● Los Angeles has more than 80 stage theaters and 300 museums, more than any other U.S city.

 

For Future Listings:

  • Contact Brett Lyon at Brett@lyonstahl.com – (310) 780-1899
  • or Woody Stahl at Woody@lyonstahl.com – (310) 710-3829

 

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