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.
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
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
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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#IDX-primaryPhoto,#idx-details-header,#IDX-listingMediaLinksListed by: Michael Harper, DRE #01381971 from Keller Williams Palos Verdes 310-544-6100