357 W 9TH Street, San Pedro, CA 90731

About this property

2 contiguous, 4 unit properties (2 APNs) comprising a fully-gated and secured 8 unit property. The buildings have very large units averaging almost 1,000 square feet each. The large 4 Bed units have a private yard and the other units enjoy the use of private balconies. The entire asset was tented and section 1 termite work completed, recently. In addition, new water heaters were recently installed. Also, the property's rental income is largely guaranteed every month. All units are Section 8, which means the income comes early every month without fail. Even better, all units are eligible for an increase - the allowable "city of LA" increase for 2019-2020 is 4%. And if you got rents to the maximum allowable, by Section 8, you'd be clicking along at over a 6% cap.

Listing description from the October 2019 sale, as reported to CRMLS.

Sale history

$2,260,000

Sold October 2019 · listed $2,399,000, orig. $2,499,000, on market May 2019 · MLS #19463592 · Source: CRMLS

Listing Agent: Brice Head · Listing Office: Marcus & Millichap · Contact: 424-405-3900 · Bought with: Brice Head · Marcus & Millichap

$915,000

Sold May 2018 · listed $975,000, orig. $999,000, on market October 2017 · MLS #SB17235210 · Source: CRMLS

Listing Agent: Fred DiBernardo · Listing Office: Fred DiBernardo · Contact: 310-832-4572 · Bought with: Fred DiBernardo · Fred DiBernardo

Explore San Pedro