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626 W 7th Street

San Pedro, CA 90731
  • $1,965,000
  • STATUS: Pending
  • ON SITE: 126 Days
  • ID#: PW22010570
Pending
UPDATED: 37 min ago
$1,965,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing Agent(s): Robert Stepp of Keller Williams - Santa Monica (310-482-2200)


Description

626 W 7th Street is a10-unit multi family investment located in burgeoning San Pedro, California. Built in 1923, the property features a mix of mostly remodeled (1) one-bed / two-baths and (9) studios, onsite laundry and four detached garages. Fueled by extensive development projects at the nearby Port of Los Angeles, San Pedro is one of the most exciting and dynamic markets in Los Angeles, undergoing strong economic growth. The subject property is conveniently and centrally located in San Pedro, with an excellent Walk Score of 93, deemed a 'Walker's Paradise' with daily errands not requiring a car. This asset offers a new buyer the opportunity to achieve a significant increase in income by converting the existing detached garages into two (2) ADU's and completing the conversion of electricity to individual meters, which is already 80% complete.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T22:30:26.827. 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/124864072
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626 W 7th Street San Pedro, CA 90731

  • Price: $1,965,000
  • Status: Pending
  • On Site: 126 Days
  • Updated: 37 min ago
  • ID#: PW22010570
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1923
Built
Neighborhood:
699 - Not Defined
County:
Los Angeles
Area:
699 - Not Defined
Property Description
626 W 7th Street is a10-unit multi family investment located in burgeoning San Pedro, California. Built in 1923, the property features a mix of mostly remodeled (1) one-bed / two-baths and (9) studios, onsite laundry and four detached garages. Fueled by extensive development projects at the nearby Port of Los Angeles, San Pedro is one of the most exciting and dynamic markets in Los Angeles, undergoing strong economic growth. The subject property is conveniently and centrally located in San Pedro, with an excellent Walk Score of 93, deemed a 'Walker's Paradise' with daily errands not requiring a car. This asset offers a new buyer the opportunity to achieve a significant increase in income by converting the existing detached garages into two (2) ADU's and completing the conversion of electricity to individual meters, which is already 80% complete.
Exterior Features

Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 1 Parking Features Door-SingleGarage Parking Total 4 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest Community Apartment Community Features Urban Electric Expense 5317 Fuel Expense 5317 Garage YN Yes Gross Income 146542 Gross Scheduled Income 151074 Insurance Expense 4247 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Maintenance Expense 7080 Net Operating Income 78097 New Construction YN No New Taxes Expense 24171 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 68445 Other Expense 2500 Pest Control Expense 852 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 5317 Water Sewer Expense 5317 Water Source Public Zoning Lac2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-25T22:30:26.827. 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.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Robert Stepp of Keller Williams - Santa Monica (310-482-2200)