Description
A unique, plus one opportunity for a savvy Buyer. This 9 unit property was, in the past, operated as a 10 unit. It currently has a Studio unit that is CURRENTLY IN THE PROCESS OF BEING REGISTERED as an Additional Dwelling Unit (aka ADU). This additional income should bump up the gross income as much as an additional $18,000 per year. Buyer to verify. This nice, 9,000 square foot corner lot location is walking distance to the $150MM, San Pedro Waterfront Redevelopment anchored by Gladstones. 150K square feet of retail and dining, 30K of office, and 89K square feet of existing wharf and floating dock space. The property has been upgraded, as needed, as units have turned over new windows and refurbished interiors. An almost 5% cap opportunity day one and 6.3% on market rents AND THEN OVER A 7% CAP PROFORMA WITH THE ADDITION OF POTENTIAL ADU INCOME.
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0BEDS
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0.2ACRES
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0BATHS
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01/2 BATHS
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5,331SQFT
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$366$/SQFT
School Ratings & Info
Description
A unique, plus one opportunity for a savvy Buyer. This 9 unit property was, in the past, operated as a 10 unit. It currently has a Studio unit that is CURRENTLY IN THE PROCESS OF BEING REGISTERED as an Additional Dwelling Unit (aka ADU). This additional income should bump up the gross income as much as an additional $18,000 per year. Buyer to verify. This nice, 9,000 square foot corner lot location is walking distance to the $150MM, San Pedro Waterfront Redevelopment anchored by Gladstones. 150K square feet of retail and dining, 30K of office, and 89K square feet of existing wharf and floating dock space. The property has been upgraded, as needed, as units have turned over new windows and refurbished interiors. An almost 5% cap opportunity day one and 6.3% on market rents AND THEN OVER A 7% CAP PROFORMA WITH THE ADDITION OF POTENTIAL ADU INCOME.
Based on information from California Regional Multiple Listing Service, Inc. as of 2021-04-14T18:24:36.733. 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 Doherty Real Estate Group | eXp Realty of California, Inc.. Licensed in the State of California, USA.