626 W 7th Street $1,965,000

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    626 W 7th Street San Pedro, CA 90731

    • 0 Beds
    • 0 Baths
    • 5,616 sq. ft.
    • Multi-Family
    • MLS# PW22010570
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    Views: 358 Days On Market: 109

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    Property Details

    626 W 7th Street is a10-unit multi family investment located in burgeoning San Pedro, California. Built in 1923, the property features a mix of mostly remodeled (1) one-bed / two-baths and (9) studios, onsite laundry and four detached garages. Fueled by extensive development projects at the nearby Port of Los Angeles, San Pedro is one of the most exciting and dynamic markets in Los Angeles, undergoing strong economic growth. The subject property is conveniently and centrally located in San Pedro, with an excellent Walk Score of 93, deemed a 'Walker's Paradise' with daily errands not requiring a car. This asset offers a new buyer the opportunity to achieve a significant increase in income by converting the existing detached garages into two (2) ADU's and completing the conversion of electricity to individual meters, which is already 80% complete.

    • General Features
      • Buyer Compensation 2.000 %
      • Community Features Urban
      • County Or Parish Los Angeles
      • Number Of Buildings 1
      • Number Of Separate Electric Meters 1
      • Number Of Separate Gas Meters 1
      • Number Of Separate Water Meters 1
      • Number Of Units Total 10
      • YearBuilt 1923
    • Building Features
      • Laundry Features Common Area
    • Property Features
      • Lot Size Acres 0.11
      • Lot Features 6-10 Units/Acre
      • Pool Private Y/N 0
      • Pool Features None
      • Parking Total 4.00

    Contact

    Patty Farnham

    Patty Farnham

    Global Real Estate Advisor

    DRE# 01779378

    Sepulveda Office

    Mobile Phone: 310-896-6675

    Neighborhood

    90731 (San Pedro) Demographics

    38 Median Age
    3,887 Population Density (per sq. mile)
    32% College Educated
    $56,881 Estimated Median Income
    7,598 Estimated Total Home Owners
    15,245 Estimated Total Renters
    33% / 67% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    60,813 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $908,000 Median Sales Price
    21 Homes Sold
    38 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,965,000
        5/19/2022 4:02:48 PM Status Changed Source: Multiple Listing Service New Value: Pending
        4/12/2022 1:02:16 AM Price Reduced Source: Multiple Listing Service New Value: $1,965,000 -14.57%
        1/18/2022 5:35:00 PM New in Database Source: Multiple Listing Service New Value: $2,300,000

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        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 6/27/2022 1:33:43 AM. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.