1203 S Meyler Street

    San Pedro, CA 90731
    • $1,129,000
    • STATUS: Active Under Contract
    • ON SITE: 24 days
    • ID#: SB18185781
    Under Contract
    UPDATED: 76 min ago
    $1,129,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,880
      SQFT
    • $291
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1925
    County:

    School Ratings & Info

    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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-17T09:31:14.93. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/88770087

    1203 S Meyler Street San Pedro, CA 90731

    • Price: $1,129,000
    • Status: Active Under Contract
    • Updated: 76 min ago
    • ID#: SB18185781
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    3,880
    SQFT
    $291
    $/SQFT
    1925
    Built
    Neighborhood:
    183 - Vista Del Oro
    County:
    Los Angeles
    Area:
    183 - Vista Del Oro
    Property 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.
    Exterior Features

    Architectural Style Traditional Direction Faces Northeast Foundation Details Raised Garage Spaces 2.00 Lot Features Corner LotLot 6500-9999Yard Lot Size Dimensions 60X125 Lot Size Source Assessor Lot Size Units Square Feet Parking Features GarageSee Remarks Parking Total 2.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN No Roof CompositionShingle View City LightsHarbor View YN Yes

    Interior Features

    Appliances Free Standing Range Appliances YN Yes Average Studio Area 336 Average Studio Area Units Square Feet Average1 Bed Area 718 Average1 Bed Area Units Square Feet Average2 Bed Area 672 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring CarpetLaminateSee RemarksTile Heating Wall Heater Heating YN Yes Interior Features Ceramic Counters Laundry Features See Remarks

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 5.40 Community Features CurbsSidewalksStreet Lighting Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Garage Rental Rate 0.00 Gardener Expense 720.00 Gross Income 76860.00 Gross Multiplier 14.10 Gross Scheduled Income 79860.00 Insurance Expense 1900.00 Land Lease YN No Laundry YN Yes Licenses Expense 407.00 Net Operating Income 61333.00 New Construction YN No New Taxes Expense 14000.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 3 Operating Expense 18527.00 Professional Management Expense 0.00 Property Condition Updated/Remodeled Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGasSee Remarks Total Actual Rent 6655.00 Total Expenses 18527.00 Trash Expense 0.00 Water Sewer Expense 1500.00 Water Source Public Year Built Source Assessor Zoning Lac2

    Listing provided courtesy of Gary Krill of Keller Williams Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-17T09:31:14.93. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Fred Sed Realty - Keller Williams
    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604