Description
This fourplex offering presents new investor the exciting opportunity to rehabilitate and reposition the asset, which has some deferred maintenance, to substantially increase rental income and add value: see agent remarks regarding units, and current rents of the remaining two units offer 16 percent rental upside.1232 North Park Western Drive is a two-story fourplex with a mix of one three-bed/two-bath and three two-bed/one-bath units. The units boast spacious floor plans and in-unit laundry hookups. The property also features ample surface parking in front and an underutilized private backyard.The property is located near the northern bounds of San Pedro on an attractive, quiet residential street near a Target, Harbor Highlands Park, and Park Western Elementary. The average household income within one mile exceeds $124,000. San Pedro is a strong coastal rental submarket that has seen billions of dollars of private and public investment in numerous development projects in recent years.Note: income figures are underwritten using pro forma numbers for two of the four units.
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0BEDS
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0.27ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
This fourplex offering presents new investor the exciting opportunity to rehabilitate and reposition the asset, which has some deferred maintenance, to substantially increase rental income and add value: see agent remarks regarding units, and current rents of the remaining two units offer 16 percent rental upside.1232 North Park Western Drive is a two-story fourplex with a mix of one three-bed/two-bath and three two-bed/one-bath units. The units boast spacious floor plans and in-unit laundry hookups. The property also features ample surface parking in front and an underutilized private backyard.The property is located near the northern bounds of San Pedro on an attractive, quiet residential street near a Target, Harbor Highlands Park, and Park Western Elementary. The average household income within one mile exceeds $124,000. San Pedro is a strong coastal rental submarket that has seen billions of dollars of private and public investment in numerous development projects in recent years.Note: income figures are underwritten using pro forma numbers for two of the four units.
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-26T08:25:56.823. 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 deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.