395 W 7th St, San Pedro, CA 90731

Property Description

Great opportunity to subsidize your commercial business with the rental income from the upstairs 2 residential units! Makes your cost for the commercial space less than rent (especially after tax benefits!). The commercial space has high ceilings (approx 14 ft), lots of outlets, 2 bathrooms w/showers and two kitchen areas, garage door for loading or car entry that has a high opening. Lots of possibilities. City says it can be used for an auto service, retail, etc., as well as convert both giant downstairs bays into residential ( buyer to verify). Downstairs is already divided into 2 separate commercial spaces (see diagram). Last tenant used both spaces and paid $4000/mo. Tax records show an incorrect sqft of 2,413 SF. However, the City Report shows the building layout permitted in 1992 exactly as it is now (nothing has been added), so the city thinks perhaps that is the SF the prior original building. The 3,754 SF was obtained from a professional who measured the building. (BTw) Floorplan incorrectly shows two full baths in residential unit C which has only 1.5 baths. Trust sale - no court approval needed. Some nice views from the upstairs balconies of Harbor and the mountains. There are at lesat 6 on-ssite parking spots! The whole area has improved over the years and is charming. ** The seller is considering having one of the rental units vacated, so you can easily remodel/update and therefore increase the income. ** This could become an incredible 4 plex!