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Listing 1 out of 4
$1,129,000 Active Under Contract

1203 S Meyler Street
San Pedro, CA 90731

6 units | Multi Family Home
7536 sq ft - MLS# SB18185781
Property Photo
1/23

Description

SELLER FINANCING!! NO APPRAISAL FEES! NO LENDER FEES! Seller wants to finance this very nice property located on a large 7500 sq ft lot in a great rental area. Main building at 1203 S Meyler consists of 4 spacious 1 bedroom 1 bath units. Upper units have harbor & city lights view. Two of them have also been nicely upgraded. Owner pays water for these units. 911 W 12th St is a 2 bedroom 1 bath home with indoor laundry and fenced yard with patio. The tenant pays all utilities including water. 913 W. 12th St is a nicely upgraded cottage with a fenced front yard. This tenant also pays all utilities including water. The oversized 2 car garage is used by the current owner and can be rented for an additional $300/month income. The property is well-maintained and easy to manage. Seller has owned the property for 30 years and wants to finance the sale with a minimum 25% down. Terms to be payable over 30 years, due in 10 years. Interest rate is negotiable. Seller will also consider a cash-out deal. Perfect opportunity for the investor who has the funds to invest and doesn't want to deal with the stringent guidelines of a commercial lender. GRM & Cap Rate are figured on ACTUAL rents and there's lots of upside to make the numbers even better. Did I mention it's located just a short distance from the multi-million dollar waterfront renovation currently underway? This one makes sense and has the potential to be a real money maker.

Features

  • # of Parking Spaces: 2.00
  • Appliances: Free Standing Range
  • Appliances YN: Yes
  • Area: 183 - Vista Del Oro
  • Average 1 Bed Area: 718
  • Average 2 Bed Area: 672
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area: 336
  • Average Studio Area Units: Square Feet
  • Building Area Total: 3880.00
  • Building Area Units: Square Feet
  • Community Features: Curbs, Sidewalks, Street Lighting
  • Country: US
  • Direction Faces: Northeast
  • Directions: 13th St. to Meyler. Corner of 12th and Meyler.
  • Flooring: Carpet, Laminate, See Remarks, Tile
  • Foundation Details: Raised
  • Garage Spaces: 2.00
  • Gardener Expense: 720.00
  • Gross Income: 76860.00
  • Gross Multiplier: 14.10
  • Gross Scheduled Income: 79860.00
  • Heating: Wall Heater
  • Heating YN: Yes
  • Insurance Expense: 1900.00
  • Interior Features: Ceramic Counters
  • Laundry Features: See Remarks
  • Laundry YN: Yes
  • Listing Agent License: 01086159
  • Listing Office License: 01501084
  • Listing Status: Active Under Contract
  • Lot Dimensions: 60x125
  • Lot Features: Corner Lot, Lot 6500-9999, Yard
  • Lot Size: 0.1730
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Net Operating Income: 61333.00
  • New Taxes Expense: 14000.00
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 3
  • Operating Expense: 18527.00
  • Parking Features: Garage, See Remarks
  • Parking Spaces: 2.00
  • Parking YN: Yes
  • Property Condition: Updated/Remodeled
  • Property Type: Multi Family Home
  • Rent Control YN: Yes
  • Roof: Composition, Shingle
  • Sewer: Public Sewer
  • Style: Traditional
  • Sub Type: Multi Family Home
  • Total Actual Rent: 6655.00
  • Total Expenses: 18527.00
  • Units: 6
  • Water Sewer Expense: 1500.00
  • Water Source: Public
  • Year Built: 1925
  • Year Built Source: Assessor
  • Zip Code: 90731
  • Zoning: LAC2
  • View: City Lights,Harbor, Yes
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