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1079 W 22nd Street

San Pedro, CA 90731
  • $1,090,000
  • STATUS: Active
  • ON SITE: 26 Days
  • MLS #: SB23164862
UPDATED: 18 min ago
$1,090,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing Agent(s): John Munn of San Pedro Real Estate Company (310 721-2167)


Description

Back on market after rear unit has become vacant and newly renovated. Ready to move in or rent at market rate. Rare, mixed use LARD2 Zoned 2,628 square feet for live-work, office / flex space, consisting of approximately 1,350sf of commercial space, plus 2 SFR rental 1 bed/1 full bath homes. Excellent, Vista del Oro area of San Pedro, up the hill from the flats, but freeway close. Street to alley lot, with 4 gated parking spaces off of the alley. Separate electric and water meters. The music school/office space is beautifully maintained with recent renovations, and consists of a reception and waiting area, 4 good sized rooms, 3 smaller rooms as well as 2 bathrooms. The 2 rental homes are beautiful 1920's craftsman style homes, which are appealing to tenants and/or owner occupant, and have a shared laundry room with gas washer and dryer in common area. Private, completely fenced yard in the rear. Turn-key music school business with strong cash flow, high profitability, and easy manageability. If you love music, this is your dream opportunity. The music school has been running continuously for the last 70+ years, and has an excellent reputation, as well as renowned music teachers. Business items, musical instruments, appurtenances, and intangible items included with the sale for seamless and immediate realization of profits. Business income is not included in financial analysis, but will substantially increase the metrics. Call to discuss. Approximately $20,000 of instruments, computer equipment, computers and printers included in sale also add to the metrics. In front, there is a large 'loading only' zone, so that there is always room for customers/students to have easy access, as well as ample street parking. Leland Elementary School is right across the street, which is an easy opportunity to target an on-going stream of revenue. The school has a variance to run the school Mon-Saturday. Close to the Gaffey corridor, which leads to the 110 freeway and 47 freeway connecting to Long Beach. Close to the port of LA/Long Beach, and the new multi-million dollar Ports O' Call Redevelopment Project. The whole world has finally found out that San Pedro is the last southern California beach city that remains affordable. Get in now, before that changes, and ride the wave of real estate appreciation, plus built in business revenue.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-29T18:37:03.64. 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 or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/143056323
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1079 W 22nd Street San Pedro, CA 90731

  • Price: $1,090,000
  • Status: Active
  • On Site: 26 Days
  • Updated: 18 min ago
  • MLS #: SB23164862
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1923
Built
Neighborhood:
183 - Vista Del Oro
County:
Los Angeles
Area:
183 - Vista Del Oro
Property Description
Back on market after rear unit has become vacant and newly renovated. Ready to move in or rent at market rate. Rare, mixed use LARD2 Zoned 2,628 square feet for live-work, office / flex space, consisting of approximately 1,350sf of commercial space, plus 2 SFR rental 1 bed/1 full bath homes. Excellent, Vista del Oro area of San Pedro, up the hill from the flats, but freeway close. Street to alley lot, with 4 gated parking spaces off of the alley. Separate electric and water meters. The music school/office space is beautifully maintained with recent renovations, and consists of a reception and waiting area, 4 good sized rooms, 3 smaller rooms as well as 2 bathrooms. The 2 rental homes are beautiful 1920's craftsman style homes, which are appealing to tenants and/or owner occupant, and have a shared laundry room with gas washer and dryer in common area. Private, completely fenced yard in the rear. Turn-key music school business with strong cash flow, high profitability, and easy manageability. If you love music, this is your dream opportunity. The music school has been running continuously for the last 70+ years, and has an excellent reputation, as well as renowned music teachers. Business items, musical instruments, appurtenances, and intangible items included with the sale for seamless and immediate realization of profits. Business income is not included in financial analysis, but will substantially increase the metrics. Call to discuss. Approximately $20,000 of instruments, computer equipment, computers and printers included in sale also add to the metrics. In front, there is a large 'loading only' zone, so that there is always room for customers/students to have easy access, as well as ample street parking. Leland Elementary School is right across the street, which is an easy opportunity to target an on-going stream of revenue. The school has a variance to run the school Mon-Saturday. Close to the Gaffey corridor, which leads to the 110 freeway and 47 freeway connecting to Long Beach. Close to the port of LA/Long Beach, and the new multi-million dollar Ports O' Call Redevelopment Project. The whole world has finally found out that San Pedro is the last southern California beach city that remains affordable. Get in now, before that changes, and ride the wave of real estate appreciation, plus built in business revenue.
Exterior Features

Carport Spaces 0 Construction Materials StuccoWood Siding Direction Faces North Entry Level 1 Entry Location Front Exterior Features Rain Gutters Fencing Average Condition Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 3 Open Parking Spaces 4 Parking Features AssignedGatedOff StreetPaved Parking Total 4 Pool Features None Pool Private YN No Property Attached YN Yes Road Surface Type Alley Paved View None View YN No

Interior Features

Common Walls 1 Common Wall Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring CarpetVinyl Heating Forced AirWall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 6 Common Interest None Community Features Gutter(S) Electric Electricity - On Property Electric Expense 3600 Fuel Expense 650 Garage YN No Gross Income 10800 Gross Scheduled Income 10800 Insurance Expense 2200 Land Lease YN No Laundry Features Common Area Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashConventional Net Operating Income 7560 New Construction YN No Number Of Separate Gas Meters 3 Number Of Separate Water Meters 3 Number Of Units Leased 1 Operating Expense 3240 Property Condition Updated/Remodeled Property Sub Type Mixed Use Rent Control YN Yes Security Features Smoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays All UtilitiesElectricityTelephoneWater Total Actual Rent 900 Trash Expense 800 Utilities Electricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Water Sewer Expense 800 Water Source Public Zoning Lard2



Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-29T18:37:03.64. 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 or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): John Munn of San Pedro Real Estate Company (310 721-2167)