650 West 7th Street
650 West 7th Street
$1,250,000
3
6
3,700
3,700
$338
Closed 12/16/22
Description
Value added opportunity situated in one the most dynamic growing cities within Southern California. The Subject Property was built in 1988 and is exempt from LA City Rent Control (California does have a Statewide cap on rent increases whereby an annual increase of 10% (SB1482) is permissible. Consisting of a functional and useful mix of 4 studios, 1 Bedroom, and a 2 Bedroom apartment, this complex will provide an investor a great opportunity to for a strong year-round occupancy while growth in income....Value added opportunity situated in one the most dynamic growing cities within Southern California. The Subject Property was built in 1988 and is exempt from LA City Rent Control (California does have a Statewide cap on rent increases whereby an annual increase of 10% (SB1482) is permissible. Consisting of a functional and useful mix of 4 studios, 1 Bedroom, and a 2 Bedroom apartment, this complex will provide an investor a great opportunity to for a strong year-round occupancy while growth in income. Several of the apartments face 7th St and has plenty of natural light with great windows. Parking is covered, utilities are separately metered for Gas and Electric. Central Hot Water Heater and Laundry Room. Since this property was built in the 1980's, less headaches for an investor. Several units were turned over in the last 3-4 years and have been upgraded. Why Purchase: This asset should/could/may provide an investor with immediate cash at List Price with potential of 10% annual increases with the expectation of minimal move outs due to the existing low rents. Thus, ease of ownership, low expenses, and value-added opportunity... Special consideration for an investor is the massive and unprecedent growth and development in the city of San Pedro - including the Billions being spent on the waterfront retail project as well as the super high end housing projects - all within reasonable walking distance from the Subject Property.
1st Thursdays are also back. Make sure to take your client by the property and walk a few blocks to the huge festivities on the 1st Thursday of each month.
1st Thursdays are also back. Make sure to take your client by the property and walk a few blocks to the huge festivities on the 1st Thursday of each month.
- Listed by David Holstein • DRE #01210777 • Brokerage DRE #01210777 • The Holstein Group
Property Details for 650 West 7th Street
Parking Spaces Total
7
Private PoolNo
Total Units6.0
Building TypeAttached
Lot Size SourceAssessor
Living Area3700
Assessor Parcel Number7451-036-015
Property Attached YNtrue
Location
LISTING UPDATED: 12/16/2022 05:08 AM
Property Details for 650 West 7th Street
Status | Closed |
---|---|
MLS # | SB22139953 |
Days on Market | 136 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1988 |
Lot Size | 0.11 AC / 5,001 SF |
County | Los Angeles County |
Location
Building Information for 650 West 7th Street
Stories-Residences-Year Built1988Building Size-Lot Size0.11 AC / 5,001 SF
Payment Calculator
$8,160 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 650 West 7th Street
Property History for 650 West 7th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 650 West 7th Street
Taxable ValueLand$800,000Additions$457,300Total$1,257,300
Tax Record2023$16,059 ($1,338 / month)
Home Facts
Total Finished SqFt3,700 SqFtAbove Grade Finished SqFt3,700 SqFtLot Size5,001 SqFtStyleMulti-Family Res (5+ Units)Year Built1988ZoningLAC2CountyLOS ANGELESAPN7451-036-015
Schools near 650 West 7th Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Cabrillo Avenue Elementary School PublicK to 5 | ||
Richard Henry Dana Middle School Public6 to 8 | ||
San Pedro Senior High School Public9 to 12 | ||
Port Of Los Angeles High School Charter9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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