20 Units - San Pedro: Property For Sale

Properties For Sale 20 Units - San Pedro

20 Units - San Pedro

545 W. 14th St., San Pedro 90731

DRIVE-BY ONLY. Do not disturb tenants. Tenants do not know the property is for sale. Interior inspection with accepted offer.

Offered at:
$5,195,000

Property Description

The 14th Street Apartments is a 20-unit, 2-story (over on grade parking) multifamily building built in 1973. The property enjoys an excellent unit mix of 12 - 1-bedroom 1 - bath & 8 - 2 bedroom 1-bath apartments. There are on-site laundry facilities for the tenants, an intercom entrance system and secure parking for 21 cars. Many of the units have balconies. This building is centrally located near the deep water port of San Pedro / Long Beach, where tenants can take advantage of the short commute to an incredible number of jobs located in the harbor area. BONUS: The building has an additional space that could act as a perfect Accessory Dwelling Unit (or ADU). It consists of a large room with kitchen and a separate bathroom with shower. This could be converted into a bachelor unit and be rented, provided the proper paperwork is filed with the city and work is completed to bring the unit up to proper standards.

Living in San Pedro

The neighbors in the San Pedro neighborhood in Los Angeles are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 84.4% of U.S. neighborhoods. With 18.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 58.6% of U.S. neighborhoods.

In the San Pedro neighborhood, 34.9% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 28.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (22.4%), and 13.7% in executive, management, and professional occupations.

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in San Pedro neighborhood spend under 15 minutes commuting one-way to work (33.4% of working residents), one of the shortest commutes across America.

Here most residents (73.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (13.2%) and 7.2% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

Real Estate Prices and Overview

San Pedro median real estate price is $557,102, which is more expensive than 46.4% of the neighborhoods in California and 85.1% of the neighborhoods in the U.S.

The average rental price in San Pedro is currently $1,996, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 59.1% of California neighborhoods.

San Pedro is a densely urban neighborhood (based on population density) located in Los Angeles, California.

San Pedro real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the San Pedro neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Home and apartment vacancy rates are 8.9% in San Pedro. NeighborhoodScout analysis shows that this rate is lower than 50.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Income

Twelve 1-Bedroom 1-Bath $1,200
Eight 1-Bedroom 2-Bath $1,371
Monthly Total $25,368

Cash Flow Analysis

Gross Scheduled Income $304,416
Operating Expenses $83,715 (27.5%)
Net Operating Income $220,701

Acquisition Data

Down Payment $1,558,500 (30%)
Loan Amount $3,636,500 (70%)

Call or E Mail to request a Marketing Package and 10 Year Financial Analysis of this property. Marketing Package includes Complete Property Information, Sales and Rent Comparable Analysis. 10 Year Financial Analysis includes Complete Cash Flow Analysis, Itemized Expenses, Expected Cash Flow, Return on Initial Equity, Expected Gross Income Increase, Tax Benefits, Mortgage Principal Reduction, Expected Appreciation, Depreciation Analysis, Adjusted Cost Basis, Capital Gains Tax On Sale and more.

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