Sold
752 W 25th Street
San Pedro CA, 90731
$2,500,000
$312.50 per sqft
Sold
8,000 sqft
Condo
Built in 1963
Listed by Gary Krill with Compass 310-241-3038
Incredible opportunity to be the 2nd owner of this TROPHY property. Original owners acquired the duplex at 758-760 W 25th St. in the 1950s, bought the lot next door and then in 1963 built the additional seven units to create this pride-of-ownership property nine unit complex that sits on an almost 9000 sq ft double-lot in a prime area of San Pedro. Building mix includes three 2 bedroom 2 bath units, five 2 bedroom 1 bath units and one 1 bedroom 1 bath unit. Some of the units offer breathtaking ocean, harbor and Angel's Gate views and all enjoy the cool ocean breezes. Interiors are in good conditon with a few being remodeled and the roof and windows were replaced in 2002. LA city mandated soft story retrofit? No need to worry about that, it was completed in February of last year (at a cost of about $100k). Laundry hook-ups in units A,B,C, 758 & 760, the other units use coin-operated community laundry equipment. There are 4 garage spaces plus 6 carport spaces. The location? Its located literally just minutes away from local beaches, ocean bluffs, the bustling downtown business district and the multi-million dollar "West Harbor" waterfront redevelopment that is already underway and scheduled to be completed within the next few years. Value? This building is priced aggressively at 15.7 X CURRENT rents (not proforma) and a cap of 4.4. There is also tons of upside in the rents with proforma rents coming in at just over $214,000 per year. This is a great opportunity for your investor clients looking to complete a 1031 exchange. You won't find a better investment deal out there. Hurry!!
SB22119428
MLSⓇ ID
June 16, 2022
Listed
March 23, 2024
Updated
Map
752 W 25th Street
San Pedro CA, 90731
Interior Features
Total Stories
2
Appliances
Free-Standing Range
Laundry Description
Common Area, Inside, See Remarks
Floor Description
Carpet, Laminate, See Remarks, Vinyl
Fireplace
Yes
Fireplace Description
None
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.21 Acres
Lot Features
Front Yard, Sprinklers In Front
Architectual Style
Mid-Century Modern
Roof
Composition, Shingle
Sewer
Public Sewer
Other Property Details
Area Name
183 - Vista Del Oro
Days on Market
6
Garage
Yes
Garage Spaces
4
Parking
Carport, Garage
Parking Total
4
View
Yes
View Description
Harbor, Marina, Ocean, Water
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LARD1.5
Buyer Agency Compensation
2.5%
Listing Contact: 310-241-3038
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/23/2024 at 1:40 AM UTC