640 W 7th St, San Pedro, CA 90731

Property Description

Just reduced by $200,000! 640 West 7th Street is a terrific investment opportunity located in the booming market of San Pedro, with approximately 53% +/- rental upside! Located in an Opportunity Zone, this is the perfect investment for an exchange Buyer! The property has 16 units, with a unit mix of Four 2 Bedroom units, Ten 1 Bedroom units, and Two retail spaces on the ground floor. Units are all individually metered for gas and electricity, and they are spacious with nice balconies. There are two laundry rooms onsite, and there is plenty of secured parking available. The building has been owned by the same family for well over 30+ years, and has undergone several improvements throughout the current ownership. There is a large central courtyard, and the building is very secure with a security system. The roof was also recently re-sealed. The property has a newer water heater and the two bedroom units all have dishwashers as well. This investment is perfectly positioned in the heart of San Pedro. Just one street over from the downtown area, tenants will enjoy being within walking distance to countless restaurants, bars, and unique stores! It is also very close to San Pedro waterfront, which is currently being completely revamped and will be re-branded as the "West Harbor". This is the perfect opportunity for an astute investor to purchase a terrific long term asset in a growing market.