We have sold a property at 635 21st Street W in San Pedro.
The subject property is an extremely well maintained 7 unit apartment complex with excellent curb appeal, located on 21st Street in San Pedro. The present owner has made extensive upgrades to this property over the past few years including: new roofs, rain gutters, new windows, new garage doors, exterior & interior paint, kitchen appliances, heaters, landscaping, plumbing, decking, wrought iron railing and sewer line. Many units have new kitchen cabinets and flooring. There are 7 garages onsite and 2 open spaces in front. All units are individually metered for gas & electric and tenants also pay for the trash service. There is a landlord owned laundry room onsite with 2 washers and 2 dryers that generate $1,800 per year in income. The front building (635 21st Street) is a two story 4-plex that was constructed in 1989 (Certificate of Occupancy dated 9/19/1989). The unit mix consists of a 3+1, 2+1, 3+3, and a 2+2 unit mix and one garage. The rear building (641 21st Street) is a two story 3-plex that was built in 1963 and all units are 2 bedroom 1 bath units. At current rents, the property is priced to sell at 12.9 GRM & a 5.09% CAP rate!!! THIS PROPERTY IS SUBJECT TO THE CITY OF LOS ANGELES LADBS SOFT-STORY RETROFIT PROGRAM. (Cost of said Retrofit is Reflected in the Price) Please visit LA DBS website for more information.