$858,000
SOLD NOV 4, 2024
3 Beds
3 Baths
1,898 Sq Ft
5,120 Sq Ft Lot

Recently Sold

$452 Per Sq Ft

40 Days on Market

Highlights

  • No HOA
  • Rectangular Lot
  • 1-Story Property
  • 3 Car Garage

About This Home

As of November 2024

A well-maintained 3-plex in the highly desirable Point Fermin area of San Pedro is a great investment with strong rental income potential from day one... Two of the one-bedroom, one-bath units are already rented at $1,750 and $1,776 per month, while the vacant unit can be rented at market rates, potentially up to $2,407 under the Section 8 program.

**For owner-occupants, the vacant unit provides an opportunity to live on-site while generating rental income. Each unit features its own water heater, upgraded kitchen and bathroom, and a private rear patio. Additionally, there are three attached garages—one currently rented for $160 per month—which could be converted into an Accessory Dwelling Unit (ADU) for added income.

Last Agent to Sell the Property

Olga Wright

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 3108017373 License #01315042

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Olga Wright

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 3108017373 License #01315042

Lyon Stahl Investment Real Estate, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,162

Year Built

  • Built in 1951

Lot Details

  • 5,120 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot
  • Level Lot

Parking

  • 3 Car Garage
  • Parking Available

Home Design

  • Triplex

Interior Spaces

  • 1,898 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 3 Bathrooms

Additional Features

  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tenant pays for electricity, gas, trash collection
  • Legal Lot and Block 1 / 22
  • Tax Tract Number 2971
  • Assessor Parcel Number 7456035001
  • $363 per year additional tax assessments
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Building Details

  • 2 Leased Units
  • Rent Control
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $2,373
  • Maintenance Expense $1,800
  • Water Sewer Expense $1,500
  • New Taxes Expense $10,210
  • Operating Expense $15,883
  • Gross Income $160
  • Net Operating Income $49,196

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,162

Year Built

Built in 1951

Lot Details

0

Parking

3

Listing Details

  • CapRate: 5.73
  • Price Per Unit: 286000
  • Property Attached: Yes
  • Water Sewer Expenses: 1500.00
  • Zoning: LAR2
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Parcel Number: 7456035001
  • Year Built: 1951
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Stories: 1
  • Entry Location: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 452.05

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Garage
  • Total Parking Spaces: 3.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot, Level, Walkstreet
  • Lot Size Sq Ft: 5120.00
  • Lot Size Acres: 0.1175

Rental Info

  • Garage Rental Rate: 160.00
  • Tenant Pays: Electricity, Gas, Trash Collection

Multi Family

  • Garage Income: 160.00
  • Gross Income: 160.00
  • Gross Multiplier: 12.80
  • Gross Scheduled Income: 65112.00
  • Insurance Expense: 2373.00
  • Lot Size Area: 5120.0000 Square Feet
  • Maintenance Expense: 1800.00
  • Net Operating Income: 49196.00
  • Number Of Rented Garages: 1
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 3
  • Operating Expense: 15883.00
  • Rent Control: Yes
  • Total Actual Rent: 3526.00
  • Total Expenses: 15883.00
  • Vacancy Allowance: 1953

Tax Info

  • New Taxes Expense: 10210.00
  • Tax Block: 22
  • Tax Census Tract: 2971.20
  • Tax Lot: 1
  • Tax Tract Number: 2971
  • TaxOtherAnnualAssessmentAmount: 363.00

Map

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/04/2024 11/04/24 Sold $858,000 0.0% $452 / Sq Ft
09/19/2024 09/19/24 For Sale $858,000 0.0% $452 / Sq Ft
09/14/2024 09/14/24 Off Market $858,000 -- --
08/30/2024 08/30/24 For Sale $858,000 0.0% $452 / Sq Ft
11/24/2023 11/24/23 Rented $1,750 0.0% --
11/10/2023 11/10/23 For Rent $1,750 0.0% --
12/23/2015 12/23/15 Sold $489,000 0.0% $258 / Sq Ft
11/07/2015 11/07/15 Pending -- -- --
10/29/2015 10/29/15 For Sale $489,000 -- $258 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $7,162 $566,707 $340,047 $226,660
2023 $7,027 $555,596 $333,380 $222,216
2022 $6,706 $544,703 $326,844 $217,859
2021 $6,619 $534,024 $320,436 $213,588
2019 $6,424 $518,186 $310,933 $207,253
2018 $6,310 $508,027 $304,837 $203,190
2016 $6,021 $488,300 $293,000 $195,300
2015 $969 $64,413 $23,031 $41,382
2014 $965 $63,152 $22,580 $40,572
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $876,447 VA
Previous Owner $479,500 New Conventional
Previous Owner $366,225 New Conventional
Previous Owner $1,353,000 Stand Alone Refi Refinance Of Original Loan
Previous Owner $270,000 Purchase Money Mortgage
Source: Public Records

Deed History

Date Type Sale Price Title Company
Grant Deed $858,000 First American Title Company
Interfamily Deed Transfer -- Lawyers Title
Grant Deed $488,500 Provident Title Company
Grant Deed $425,000 First American Title Company
Source: Public Records

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB24176071

California Regional Multiple Listing Service (CRMLS)

APN: 7456-035-001