647 W 5th Street, San Pedro, CA 90731

About this property

The property is located near the intersection of Gaffey Street and 5th Street down the block from a Starbucks, a Rite Aid, and several restaurants. The property’s proximity to retail has earned it a WalkScore of 89. Additionally, the building is four blocks from a new luxury 301-unit apartment building and less than a mile from the West Harbor (formerly known as San Pedro Public Market) development site. 647 West 5th Street is a 1918 construction with eight one-bedroom/one-bath units that are separately metered for gas and electricity. The building also offers on-site laundry and an underutilized back patio. This offering presents a great opportunity for an investor to acquire an asset in a dense, redeveloping rental market and capture over 20 percent rental upside.

Listing description from the April 2021 sale, as reported to CRMLS.

Sale history

$1,365,000

Sold April 2021 · listed $1,400,000, orig. $1,600,000, on market November 2020 · MLS #PW20240620 · Source: CRMLS

Listing Agent: Steven Bogoyevac · Listing Office: Steven M. Bogoyevac, Broker · Contact: 562-436-5800 · Bought with: Steven Bogoyevac · Steven M. Bogoyevac, Broker

$770,000

Sold June 2013 · listed $789,000, on market April 2013 · MLS #PV13057677 · Source: CRMLS

Listing Agent: Bob Locke · Listing Office: Keller Williams Palos Verdes · Contact: 310-544-6100 · Bought with: Lisa Burns-Pearce · Arico & Associates

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