Skip To Content
    Return to Previous Page

    2211 S Grand Avenue

    San Pedro, CA 90731
    • $1,050,000
    • STATUS: Active Under Contract
    • ON SITE: 38 days
    • ID#: SB20258239
    Under Contract
    UPDATED: 43 min ago
    $1,050,000
    • 0
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,096
      SQFT
    • $256
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1970
    County:
    Area:

    School Ratings & Info

    Description

    The Fourplex is a two-story wood frame & stucco 4,096 sf building on a 4501 sf lot built in 1970. The 4 units unit mix is a 1 3 bed 1.5 bath (upstairs Rear) , 2 2/1 units (stacked 1 upstairs/1 downstairs) and a 1 bedroom on the first floor as well as 2 double car garages with ample storage for 4 cars with automatic entry. There is also coin laundry on the second floor next to the central hot water heater. 22nd Street & Grand Avenue is 1 block away from Gaffey Street and several blocks (short bike ride or walk) to 22nd Street Landing and the water. Views from second floor unit and proximity to many of the port of LA/Long Beach employers like Longshore and logistics along with all of the south bay job market is the attraction to this Historical & affordable coastal community town. Just a few blocks from 25th street artery connecting to RPV/PVE & Rolling Hills and Trump GC and Terranea resorts. It is a beautiful sunset scenic drive/walk/run to the west side beach areas too.At a 4.6% cap & 20% upside in rents, it is a possibility of over 5.9% cap rate when you achieve market rents. Priced at 12.49 GRM and at market rents 10.4 grm and offered at only $256 a foot, this is one of the best deals available on the market. Professional Mgmt will stay on to keep up good performance. The positive cash low with ability to lock in a 30 year fixed rate loan should be attractive to a new investor or owner user or even a sophisticated one adding a great property to their portfolio.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-25T10:26:04.393. 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.

    www.northsdrealty.com/homes/112669838
    Print Image

    2211 S Grand Avenue San Pedro, CA 90731

    • Price: $1,050,000
    • Status: Active Under Contract
    • Updated: 43 min ago
    • ID#: SB20258239
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.1
    Acres
    4,096
    SQFT
    $256
    $/SQFT
    1970
    Built
    Neighborhood:
    185 - Plaza
    County:
    Los Angeles
    Area:
    185 - Plaza
    Property Description
    The Fourplex is a two-story wood frame & stucco 4,096 sf building on a 4501 sf lot built in 1970. The 4 units unit mix is a 1 3 bed 1.5 bath (upstairs Rear) , 2 2/1 units (stacked 1 upstairs/1 downstairs) and a 1 bedroom on the first floor as well as 2 double car garages with ample storage for 4 cars with automatic entry. There is also coin laundry on the second floor next to the central hot water heater. 22nd Street & Grand Avenue is 1 block away from Gaffey Street and several blocks (short bike ride or walk) to 22nd Street Landing and the water. Views from second floor unit and proximity to many of the port of LA/Long Beach employers like Longshore and logistics along with all of the south bay job market is the attraction to this Historical & affordable coastal community town. Just a few blocks from 25th street artery connecting to RPV/PVE & Rolling Hills and Trump GC and Terranea resorts. It is a beautiful sunset scenic drive/walk/run to the west side beach areas too.At a 4.6% cap & 20% upside in rents, it is a possibility of over 5.9% cap rate when you achieve market rents. Priced at 12.49 GRM and at market rents 10.4 grm and offered at only $256 a foot, this is one of the best deals available on the market. Professional Mgmt will stay on to keep up good performance. The positive cash low with ability to lock in a 30 year fixed rate loan should be attractive to a new investor or owner user or even a sophisticated one adding a great property to their portfolio.
    Exterior Features

    Architectural Style Traditional Construction Materials Stucco Fence YN Yes Fencing Average ConditionWood Garage Spaces 4.00 Lot Features 0-1 Unit/AcreSprinkler System Lot Size Source Assessor Lot Size Units Square Feet Parking Features GarageGarage Faces RearGarage - Two DoorGarage Door Opener Parking Total 4.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type AlleyCity Street Road Surface Type Alley PavedPaved Roof Composition Spa Features None Spa YN No View City LightsHarbor View YN Yes

    Interior Features

    Appliances DishwasherDisposalGas & Electric RangeGas Oven Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area 850 Average1 Bed Area Units Square Feet Average2 Bed Area 900 Average2 Bed Area Units Square Feet Average3 Bed Area 1196 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Fireplace Features KitchenLiving RoomPatio Fireplace YN Yes Flooring Vinyl Heating Wall FurnacePropane Heating YN Yes Interior Features BalconyCeiling Fan(S)Copper Plumbing FullCopper Plumbing PartialGranite Counters Laundry Features CommunityIn Carport Levels Two Room Type Living Room

    Property Features

    Accessibility Features Parking Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 4.64 Community Features SidewalksStreet Lights Country Us Electric Expense 1459.00 Elevation Units Feet Fuel Expense 0.00 Garage Income 0.00 Garage Rental Rate 0.00 Gardener Expense 1835.00 Gross Income 7008.00 Gross Multiplier 12.50 Gross Operating Income 81598.00 Gross Scheduled Income 83379.00 Gross Spendable Income 7922.00 Inclusions Washer & Dryer Units Sold With Property Insurance Expense 1610.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 60.00 Laundry YN Yes Lot Dimensions Source Assessor Maintenance Expense 3291.00 Net Operating Income 48769.00 New Construction YN No New Taxes Expense 13125.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 4 Number With Dishwasher 4 Number With Disposal 4 Number With Range 4 Number With Refrigerator 0 Operating Expense 32829.00 Operating Expense Percent 39.00 Other Expense 2048.00 Other Expense Description Reserves Present Loans 469000 Professional Management Expense 5046.00 Property Sub Type Quadruplex Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGas Total Actual Rent 6948.00 Total Expenses 32829.00 Trash Expense 1200.00 Utilities Cable AvailableElectricity AvailableElectricity ConnectedNatural Gas AvailableSewer ConnectedWater Connected Vacancy Allowance 2501 Vacancy Allowance Rate 3.00 Water Sewer Expense 3215.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of William Mulkey of Tr Wealth Management Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-01-25T10:26:04.393. 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.

     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365039850-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365039850-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365039850-1.jpg
    Logo
    The Houston Team | Compass CA DRE#01991628
    2100 Costa Del Mar
    Carlsbad CA, 92009