1224 South Mesa Street

San Pedro, CA 90731

$895,000
Price
7
Beds
5
Baths
3,559 Sq. Ft.
$251 / Sq. Ft.
3,559
Sq. Ft.
$251
per Sq. Ft.

Description

We are pleased to present our newest exclusive listing in San Pedro. This 5-unit multifamily property is located only 3 blocks away from Ports O' Call Village and minutes from the Cabrillo Marina. The property boasts spacious units comprised of three 1 bedroom/1 bathroom and two 2 bedroom/1 bathroom units. The property has been well taken care of over the years and boasts a 5.28% CAP RATE on current income with a 10.62% proforma cap rate. Additionally, the property has an estimated 65% upside in...We are pleased to present our newest exclusive listing in San Pedro. This 5-unit multifamily property is located only 3 blocks away from Ports O' Call Village and minutes from the Cabrillo Marina. The property boasts spacious units comprised of three 1 bedroom/1 bathroom and two 2 bedroom/1 bathroom units. The property has been well taken care of over the years and boasts a 5.28% CAP RATE on current income with a 10.62% proforma cap rate. Additionally, the property has an estimated 65% upside in rents. The property is individually metered for gas and electric and all units have washer/dryer hookups. The property is mainly copper plumbing and has individual water heaters. There are three garages in the rear that can used for additional income or potentially converted into an ADU. For more information, please reach out to the listing agents.
  1. Listed by Jonathan Weir • DRE #02038545 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 1224 South Mesa Street

Zoning
LARD1.5
Parcel Number
7456009025
Total Units
5.0
Living Area
3559
Source Living Area
Vendor Enhanced
Area
Plaza (185)
Vacancy Rate
0
Lot Size Area
5014
LISTING UPDATED: 12/10/2024 12:13 PM

Property Details for 1224 South Mesa Street

StatusActive Under Contract
MLS #24-465415
Days on Market28
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.12 AC / 5,014 SF
CountyLos Angeles County

Building Information for 1224 South Mesa Street

Stories2Residences-Year Built1922Building Size-Lot Size0.12 AC / 5,014 SF

Property Information for 1224 South Mesa Street

Community / Development
Community / Development
  • Number Of Units: 5
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Standard
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $80,136
  • Net Operating Income: $47,272.00
  • Gross Income: $80,136
  • Gross Rent Multiplier: $11.17
  • Total Annual Expense: 30460
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1151
  • Lot Size Square Feet: 5014
Parking Details
Parking Details
  • Parking Garage: Garage Is Detached
  • Total Parking: 3
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Garbage Disposal, Range/Oven, Refrigerator, Stackable W/D Hookup
  • Laundry: Stackable
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-19-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,059.00
  • Unit Actual Rent: $1,059.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,520.00
  • Unit Actual Rent: $1,520.00
  • Unit Projected Rent: $2,000.00
  • Like Units: 3
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $270,425.00
  • Assessed Improvement Percent: 34.43
  • Assessed Land Value: $515,098.00
  • Assessed Land Percent: 65.57
  • Assessed Total Value: $785,523.00

Property History for 1224 South Mesa Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1224 South Mesa Street

Taxable ValueLand$525,399Additions$275,833Total$801,232
Tax Record2024$10,454 ($871 / month)
Home Facts
Total Finished SqFt3,559 SqFtAbove Grade Finished SqFt3,559 SqFtLot Size5,014 SqFtStyleMulti-Family Res (5+ Units)Year Built1922ZoningLARD1.5CountyLOS ANGELESAPN7456-009-025

Schools near 1224 South Mesa 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
Fifteenth Street 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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Jonathan Weir, DRE #02038545

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.