We are pleased to present 456 West 11th Street, a renovated 11-unit apartment building in San Pedro, California. San Pedro is located on the Rancho Palos Verdes Peninsula in Los Angeles South Bay region and adjacent to the Port of Los Angeles. Thanks to a massive effort to improve the Los Angeles waterfront, San Pedro is undergoing rapid redevelopment, with over $1 Billion invested in current public and private projects. The offering is a sought-after 90s construction asset; as a 1992 construction, it is not subject to rent control. The building contains a desirable diverse mix of one, two and three-bedroom units, with 64 percent two-bedroom units. The units are separately metered for gas and electricity and have been recently renovated with new flooring, granite countertops, appliances, blinds and more. Additionally, the property offers on-site laundry and secure covered parking. With good cash flow on current rents and additional potential upside, 456 West 11th Street presents an excellent opportunity to acquire a non-rent controlled, renovated asset in a rapidly redeveloping area with historically low vacancy rates.
Listing provided courtesy of
, Steven M. Bogoyevac, Broker
Additional Property Details
San Pedro proudly wears the badge of “Port City” with a storied history dating back to the 1500s. Home to a WWII battleship, the Vincent Thomas Bridge and the Port of Los Angeles, San Pedro has always been an attraction for many.. Nevertheless, it is also home to many Los Angeles residents offering beautiful architecturals with unobstructed and seemingly endless views of the Pacific Ocean. Built along rolling hills, San Pedro is a special place with a tight sense of community and homes along the water, comprised of a competitive market that most people overlook.
Real Estate: While San Pedro is home to many Spanish style bungalows, the coastal American Craftsmans and contemporary modern builds continue to be the real draw. The city offers properties with expansive views of the Pacific and the glittering coastline, featuring a wide range of home prices. Many of the streets in San Pedro are lined with trees and sit on gentle hills allowing homes to catch to ocean breeze that comes through. Along with single family homes, San Pedro has a notable variety of condos and duplexes.
Community: San Pedro is best recognized for it’s relaxed coastal living ambiance. It is an ideal locale for families with a pace of life that is not quite as bustling as a fast-moving city. The area is peppered with parks and features a significant amount of marine-focused activities for children and adults. The area is teeming with beautiful sites, as well as hip restaurants and cafes.
Education: San Pedro is served by the Los Angeles Unified School District including San Pedro High School, Mary Star of the Sea High School, the Port of Los Angeles High School, Barton Elementary School, White Point Elementary, South Shores Magnet for the Visual and Performing Arts Elementary School, Dana Middle School, Dodson Middle School and a host of others.
Transportation: San Pedro is reachable via the 110 Freeway. Along with the Downtown San Pedro Trolley, the city has transportation by way of DASH, a local bus, in addition to the Metro Bus Line and Silver Line that take you into Downtown Los Angeles.
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