678 W 16th St, San Pedro, CA 90731

678 W 16th St, San Pedro, CA 90731

San Pedro, CA

Property Description

Pride of Ownership 5-unit apartment complex with highly desirable unit mix of all 2 bedroom units. Two Section 8 Tenants provide for guaranteed income. All tenants are paying and never missed a payment. There is Onsite Laundry Room for Additional Income (No Equipment Included). * * Property is subject to Soft Story Retrofit and there is a Potential to Convert Owner 2-Car Garage into an ADU While Completing Soft Story Retrofit which has to be completed AFTER close of escrow by Buyer. Building has All copper plumbing. Some Units have been Recently Upgraded. Total monthly rental income is $7,593

Property Features

  • Sale Price: $1,200,000
  • Area Size: 5,003 Sq. Ft.
  • Year Built: 1959
  • Listing Date: 2/1/2023
  • Closing Date: 3/16/2023
  • Units: 5
  • Current GRM: 14.27
  • Current Cap Rate: 4.72%
  • Price Per Unit: $260,000
  • Market GRM: 10.65
  • Market Cap Rate: 6.86%

Lyon Stahl Investment Real Estate

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