The subject property is a 7 unit apartment complex in PRIME Upper Del Oro neighborhood of San Pedro situated on a large 11,830 square foot corner parcel at 9th and Walker. It was originally constructed in the 1940’s in a Spanish Architectural style with a 3 bedroom 3 bath house on the corner which has a front patio and side courtyard; and a Spanish style duplex on 9th Street featuring two 2 bedroom 2 bath units, an outdoor patio and a shared 2 car garage. The remaining 4 units are on the same lot but in a separate 4 unit building that was built in 1960 and has two 2 bedroom 1 bath units and two 1 bedroom 1 bath units. Two of the units are over the laundry room/5 car garage parking. The property is well maintained and 100% leased with rents very close to market, but with some units having potential upside as they turn over. The property is in an A+ location in Upper Del Oro and is a 7 minute stroll to the retail stores and restaurants on Weymouth Corners as well major employers such as Little Company of Mary and the medical offices along 6th Street at Walker Avenue. The apartments are walking distance to places of worship and a 10 minute walk to Seventh Street Elementary School. There are partial Harbor and Water views from the patios and the upper balcony on the rear 4 unit building.
Listing courtesy of Stephen Lampe from Re/Max Commercial & Investment
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