Value-add *** 3 Multi-Family Duplexes (6 Units) *** in one of the most sought-after areas of San Pedro. Prime investment for upgrading, additional, or new development, this 2 lot oversized property near the water has significant upside on the below-market rents which are at approximately 33% under market value. San Pedro is a fast growing community which has commenced a multi-million dollar Promenade & Harbor development, with entertainment, dining options, & views of the harbor ocean.
The property consists of 2 lots with 3 buildings set up as bungalows. Two buildings on the West and East, and one building to the North. The bungalows surround a huge courtyard with endless possibilities. Check into building 2 additional units in the middle? Possible ocean/harbor views if building additional stories. Includes two car parking onsite. Gated and well maintained with wide plank vinyl flooring, tile floors, wood kitchen cabinets, and more. Separate meters for gas and electric. Low expenses. 2 of the units might be easy to evict.
This is a prime area is in the midst of enormous transformation in San Pedro with new PUDs and condos built nearby. Subject to RSO. Well situated for renters or future condo / PUD owners (?) just minutes to Cabrillo beach, near Barton Hill Elementary School, churches, supermarkets, shopping, numerous parks, trendy downtown restaurants, art galleries, and downtown San Pedro with its unique character. Just blocks to the 110 & 47 freeways, with a short 30-minute drive to downtown L.A. & 10 minutes from Long Beach. Do not miss this opportunity. Check Supplement attached. All information deemed accurate, but not guaranteed.