Step into a rare opportunity to invest in the vibrant community of San Pedro with this well-maintained 6-unit apartment building at 576 W 13th St. Each unit offers efficiently designed two-bedroom, one-bath layouts, providing a balance of comfort and functionality. The property features tuck-under parking and has recently completed a… Read More soft-story retrofit, enhancing structural safety and ensuring long-term durability. Located in a high-demand rental market with vacancy rates around 4.5%, this property presents a substantial rental upside—with potential rent growth of up to 40% as units become available. A new owner can also benefit from additional income through on-site parking fees. The building includes an onsite laundry facility, offering convenience to tenants and adding to the property's appeal. Just a few blocks away is the anticipated 42-acre San Pedro West Harbor Project, a $170 million waterfront development that will feature a 6,200-seat amphitheater, along with premier dining, retail, and entertainment options. This redevelopment is poised to transform the local area and has the potential to enhance property values as it becomes a central lifestyle destination in Los Angeles. San Pedro combines coastal charm with urban accessibility, known for its quaint neighborhoods, vibrant arts scene, and rich maritime history. Residents enjoy proximity to beaches, waterfront promenades, and attractions like the Battleship USS Iowa Museum and the Cabrillo Marine Aquarium. The area offers a lively restaurant and shopping scene, providing a blend of small-town ambiance with big-city amenities. This property offers an excellent balance of immediate income and long-term appreciation potential, making it ideal for investors looking to expand their portfolio in a growing market. Don’t miss out on this opportunity to own a solid, income-producing asset with a projected cap rate above 7%! Read Less
Property listed by Keller Williams South Bay, L'mar Kojani 310-733-6819
Listing Snapshot
Days Online
388
Last Updated
Property Type
Apartment
Lot Size
0.11 Acres
Year Built
1959
MLS Number
SB24202185
30 Days Snapshot Of 90731
$781k
-7%
(avg) sold price
21
+10%
homes sold
97
+29%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1959, Building area total: 4,664, Levels: Two, 2 stories, 1 building, Architectural style: , Attached, Common walls: TwoCommonWallsOrMore
Community
Biking, Curbs, DogPark, Fishing, Hiking, Park, StreetLights, Sidewalks
Expenses
Operating expense: $56,311
Income
Gross income: $109,824, Net operating income: $53,513
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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