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700 S Pacific Avenue, San Pedro, CA 90731

Commercial property

700 S Pacific Avenue, San Pedro, CA 90731 Sold February 2023 CRMLS
$3,050,000Sold February 2023

Listing Agent: Michel Bron (DRE #01315435) · Listing Office: Beverly and Company, Inc. · Contact: 818-382-4160 · Bought with: JOY CHIOU · Palm International Real Estate Inc. · MLS #22177519 · Source: CRMLS

18,000
Building Sq Ft
23
Units
5.57%
Cap Rate
$192,120
NOI
18,000 sqft
Lot Size
1925
Year Built
Commercial property
Type

About this commercial property

Great Mixed-Use 3-story Building with lots of upside! Good Mix of Residential and Retail units: Consists of 23 residential units (mix of studios and 1 bdrms) + 6 retail spaces. Additional open air parking lot behind the building. Located just a few minutes from Los Angeles Port and the Long Beach Port, offers significant Upside with numerous development projects in the works (ie. San Pedro West Harbor Development). Close walk to Restaurants, Shopping, bars, lounges, hotels. Consistent Strong Rental Demand. Additional Laundry Income & Parking Lot Income. No Soft-Story Retrofit Required. Easy to operate. CONDO AND RETAIL DEVELOPMENT POTENTIAL WITH PARKING FOR RETAIL. First time on the market in 50 years. ALL SQUARE FOOTAGE IS APPROXIMATE AND TBV BY BUYER. Number of parking lot parking spaces TBV.

Listing description from the February 2023 sale, as reported to CRMLS.

Sale history

$3,050,000
Sold February 2023 · listed $3,450,000, orig. $3,652,000, on market July 2022 · MLS #22177519 · Source: CRMLS
Listing Agent: Michel Bron · Listing Office: Beverly and Company, Inc. · Contact: 818-382-4160 · Bought with: JOY CHIOU · Palm International Real Estate Inc.
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