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6701 S San Pedro Street Los Angeles, CA 90003
10,670 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 10,670 sqft
Price per Sqft $154
MLS Listing ID CL26999373
HOA Y/N No
Year Built 1929
Lot Size 7,040 Sqft
Acres 0.1616
Property Sub-Type Other
Property Description
6701 S San Pedro is an eight-unit apartment complex located in South Los Angeles, near Gage and east of the110 freeway. The building has an excellent unit mix of (2) 4 bedroom - 2 bath units, (2) 4 bedroom -1.5 bath units, (3) 3bedroom 1.5 bath units and 1-3 bedroom 1 bath unit. The complex is huge, boasting 10,670 square feet for an average of over 1,300 square feet per unit. The structure is situated on a corner lot and contains 7,040 square feet. Tenants will appreciate the large parking area behind the apartments. The building is in good condition, shows well and stands out in the area. Currently, the property is producing $13,845 per month. However, because the rents are substantially below market, this property has a market GRM of 6.03 and a market CAP of 12.67%. This is outstanding opportunity for an investor that understands how to utilize strategies to get the rents to market and enjoy double digit returns
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Building
New Construction No
Others
Tax ID 6011003029
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Listed by Jerome McAlpin • McAlpin & Company