521 W 16th St W, San Pedro, CA 90731

Property Description

NEW PRICE, GREAT DEAL!! Very nice, very cute, Craftsman style, two building fourplex located in a quiet section of San Pedro. All termite repairs completed in February 2019, followed by a complete repaint of the exterior of both buildings. Both buildings will be fumigated after buyer removes all contingencies, followed by delivery of termite completion prior to close of escrow. Front building has 2 one bed, one bath units (approx 480SF each) Back building has 2 one bed, one bath (525 is approx 480SF) (527 is approx 545SF); all units have washer hookups. Parking is street, although there is a driveway on the west side of the lot, but currently blocked off by the gate to the property. I have met the tenants (all non smokers), they all seem very nice, and, per Properties West, pay their rents on time. TENANTS terms, (approx) – APT 521, 15 years – APT 523 (shown in photos) 1.5 years, APT 525 20+ years- APT 527 12 years – CAP RATE Est 5.1% - With this years rent increases CAP RATE 5.3%