Sold

$2,500,000

752 W 25th Street, San Pedro, CA 90731

8,000 Sq.Ft.
Est. payment from /mo Get Pre-Approved

Property Description

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!!
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 c...
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Interior

Kitchen
Free-Standing Range
Laundry Room
Common Area, Inside, See Remarks
Flooring
Carpet, Laminate, See Remarks, Vinyl
Fireplace
None

Area & Lot

Lot Size
8,960.292 Sq.Ft.
MLS® ID
SB22119428
Type
Condo
Year Built
1963
Neighborhood
San Pedro
Architecture Styles
Mid-Century Modern
View Description
Harbor, Marina, Ocean, Water

Exterior & Building

Stories
2
Garage Spaces
4.0
Water Source
Public
Pool
None
Roof
Composition, Shingle
Lot Features
Front Yard, Sprinklers In Front
Parking
Carport, Garage
Heat Type
Wall Furnace
Air Conditioning
None
Sewer
Public Sewer

Finance

Reduced Price
Price Upon Request
Zoning
LARD1.5
752 W 25th Street
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