Step into a rare opportunity to invest in the vibrant community of San Pedro with this well-maintained 6-unit apartment building at 576 W 13th St. Each unit offers efficiently designed two-bedroom, one-bath layouts, providing a balance of comfort and functionality. The property features tuck-under parking and has recently completed a soft-story retrofit, enhancing structural safety and ensuring long-term durability.
Located in a high-demand rental market with vacancy rates around 4.5%, this property presents a substantial rental upside—with potential rent growth of up to 40% as units become available. A new owner can also benefit from additional income through on-site parking fees. The building includes an onsite laundry facility, offering convenience to tenants and adding to the property''s appeal.
Just a few blocks away is the anticipated 42-acre San Pedro West Harbor Project, a $170 million waterfront development that will feature a 6,200-seat amphitheater, along with premier dining, retail, and entertainment options. This redevelopment is poised to transform the local area and has the potential to enhance property values as it becomes a central lifestyle destination in Los Angeles.
San Pedro combines coastal charm with urban accessibility, known for its quaint neighborhoods, vibrant arts scene, and rich maritime history. Residents enjoy proximity to beaches, waterfront promenades, and attractions like the Battleship USS Iowa Museum and the Cabrillo Marine Aquarium. The area offers a lively restaurant and shopping scene, providing a blend of small-town ambiance with big-city amenities.
This property offers an excellent balance of immediate income and long-term appreciation potential, making it ideal for investors looking to expand their portfolio in a growing market.
Don’t miss out on this opportunity to own a solid, income-producing asset with a projected cap rate above 7%!
Located in a high-demand rental market with vacancy rates around 4.5%, this property presents a substantial rental upside—with potential rent growth of up to 40% as units become available. A new owner can also benefit from additional income through on-site parking fees. The building includes an onsite laundry facility, offering convenience to tenants and adding to the property''s appeal.
Just a few blocks away is the anticipated 42-acre San Pedro West Harbor Project, a $170 million waterfront development that will feature a 6,200-seat amphitheater, along with premier dining, retail, and entertainment options. This redevelopment is poised to transform the local area and has the potential to enhance property values as it becomes a central lifestyle destination in Los Angeles.
San Pedro combines coastal charm with urban accessibility, known for its quaint neighborhoods, vibrant arts scene, and rich maritime history. Residents enjoy proximity to beaches, waterfront promenades, and attractions like the Battleship USS Iowa Museum and the Cabrillo Marine Aquarium. The area offers a lively restaurant and shopping scene, providing a blend of small-town ambiance with big-city amenities.
This property offers an excellent balance of immediate income and long-term appreciation potential, making it ideal for investors looking to expand their portfolio in a growing market.
Don’t miss out on this opportunity to own a solid, income-producing asset with a projected cap rate above 7%!
Property Details
Price:
$1,650,000
MLS #:
SB24202185
Status:
Active Under Contract
Baths:
0
Address:
576 W 13th Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
185plaza
City:
San Pedro
Listed Date:
Sep 29, 2024
State:
CA
ZIP:
90731
Lot Size:
5,001 sqft / 0.11 acres (approx)
Year Built:
1959
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Schools
Interior
Exterior
Community Features
Biking, Curbs, Dog Park, Fishing, Hiking, Park, Sidewalks, Street Lights
Garage Spaces
0.00
Lot Features
0-1 Unit/ Acre
Parking Spots
6.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address576 W 13th Street San Pedro CA
- Area185 – Plaza
- CitySan Pedro
- CountyLos Angeles
- Zip Code90731
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Courtesy of Keller Williams South Bay. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
576 W 13th Street
San Pedro, CA
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