Closed
$1,400,000
Sold For
7,047
SqFt
7,047
SqFt

611 W 9th Street

San Pedro, California CA90731-3107

Located on a high visibility corner lot, this 9 unit commercial building offers a substantial investment opportunity. Zoned LAC2 with three separate buildings totaling over 7,000sf of storefront and office space. Longer-term tenants with ample parking (approx 9 spaces) in gated rear lot (just under 15,000sf) with accessibility from Grand Ave.  Just below Gaffey, which is the main artery off the 110 fwy into San Pedro.  Minutes from Historic Downtown San Pedro Business District and the Los Angeles Waterfront.  Potential for rezoning and/or the continued development of current commercial uses. Current monthly income (2 vacancies) is $6,8000 with annual income of $81,600. Perfect for the owner-operator that would like to own with the benefit of ongoing rental income. APN includes the following addresses: 601-615 W 9th St. & 915-919 S Grand Ave.

About This Property

Listing IDPV21083429
Sold For$1,400,000$189K
Price/SqFt$198.67
StatusClosed
Sold Date12/09/2021
SqFt 7,047
CountyLos Angeles
Year Built1940
Property TypeCommercial Sale
Property Sub TypeOffice
County Los Angeles
Price Before Reduction 1589000
Price Reduction Date 2021-09-01T19:15:29+00:00
Price/SqFt 198.67
Property Sub Type Office
Property Type Commercial Sale
Year Built 1940
Zoning LAC2
Building Area Units Square Feet
Condo Area Units Square Feet
Cooling Type Central Air
Cooling yes
Laundry Features None
Construction Materials Stucco
Lot Size Source Assessor
Minimum Total Area Units Square Feet
Number Of Buildings 3
Parking Total 9
Signage Sign on Building
Uncovered Spaces 9
Water Source Public
Country US
MLS Area Major 185 - Plaza
Additional Parcels no
Building Status Existing
Co List Agent State License 01897455
Co List Office State License 01501084
Current Use Comments Storefronts/Offices
Days On Market 152
Land Use Office, Other, Retail
List Agent State License 01381971
List Office State License 01385864
Max Total Area Units Square Feet
Number Of Units Leased 8
Number Of Units Total 9
Parcel Number 7454010028
Utilities Electricity Connected, Sewer Connected, Water Connected
Year Built Source Assessor
Accounting Type Actual
Cap Rate 5.2
Expense Year 2020
Gross Scheduled Income 81600
Insurance Expense 4562
Investment Property no
Maintenance Expense 3000
Net Operating Income 78596
Operating Expense 10804
Special Listing Conditions Trust
Trash Expense 3042
Water Sewer Expense 200

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Listed by: Michael Harper, DRE #01381971 from Keller Williams Palos Verdes 310-544-6100
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