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1316 S Grand Avenue, San Pedro, California 90731, San Pedro, 90731 - 4 bed, 2 bath

1316 S Grand Avenue, San Pedro, California 90731 home-pic-0
ACTIVE$924,900
1316 S Grand Avenue, San Pedro, California 90731
4Beds
2Baths
2,226Sqft
4,506Lot

Price Vs. Estimate

The estimated value ($924,900) is $0 (0%) lower than the list price ($924,900). This property may be overpriced.

Key pros and cons

Top Pros:
Strong Income Potential: Delivered completely vacant, this duplex allows for immediate market rent setting, boasting a pro forma 5.8% CAP Rate and $63,600 gross annual rent potential, ideal for investors or owner-occupants seeking supplemental income.
Top Cons:
Age of Property: Built in 1925, the property is nearly a century old. While updated, older construction may present potential for unforeseen structural or system-related issues not covered by recent cosmetic renovations.

Compared to the nearby listings

Price:$924.9K vs avg $862.5K (+$62,450)60%
Size:2,226 sqft vs avg 1,421 sqft91%
Price/sqft:$415 vs avg $65211%

More Insights

Built in 1925 (100 years old).
Condition: Despite being built in 1925, the property has undergone extensive and recent renovations, as stated in the description and confirmed by the images. The kitchens feature modern white shaker cabinets, contemporary countertops, and updated fixtures. Bathrooms are also fully updated with new vanities, modern tiling, and fixtures. New wood-look laminate flooring is present throughout most living areas, and the property boasts fresh interior and exterior paint. The overall condition reflects a 'turnkey' state with virtually new components, meeting current quality standards.
Year Built
1925
Close
-
List price
$925K
Original List price
$925K
Price/Sqft
$415
HOA
-
Days on market
-
Sold On
-
MLS number
DW25215548
Home ConditionExcellent
Features
Deck
Patio
ViewCity Lights,Courtyard,Neighborhood

About this home

Welcome to 1316 S Grand Avenue, a beautifully updated duplex in the heart of San Pedro. Delivered completely vacant at close of escrow, this property is the perfect opportunity for both investors and owner-occupants seeking immediate potential. Each unit features 2 bedrooms and 1 bathroom, with its own garage, and the property has undergone several recent upgrades including fresh interior and exterior paint, new flooring, updated kitchens and baths, modern fixtures, a redone outdoor patio, and a newly covered stair railing that enhances both safety and curb appeal. With a gross annual rent potential of $63,600, the property offers a strong pro forma return, boasting a GRM of 14.54 and an approximate CAP Rate of 5.8% at the $924,900 asking price. The vacancy allows investors to set market rents immediately, while owner-occupants can take advantage of the opportunity to live in one unit while renting out the other for strong supplemental income. Located in Central San Pedro, this duplex offers convenient access to the LA Waterfront, freeways, schools, dining, and shopping. With its turnkey condition, income-producing potential, and prime location, 1316 S Grand Avenue is a rare opportunity in one of Southern California’s most exciting coastal markets. Schedule your private tour today and see all that this San Pedro property has to offer.

Nearby schools

5/10
Fifteenth Street Elementary School
Public,•K-5•0.3mi
3/10
Cabrillo Avenue Elementary School
Public,•K-5•0.5mi
5/10
Leland Street Elementary School
Public,•K-6•0.8mi
2/10
Barton Hill Elementary School
Public,•K-6•1.0mi
5/10
Bandini Street Elementary School
Public,•K-6•1.1mi
4/10
Seventh Street Elementary School
Public,•K-5•1.3mi
7/10
White Point Elementary School
Public,•K-6•1.5mi
9/10
Park Western Place Elementary School
Public,•K-5•1.7mi
5/10
Crestwood Street Elementary School
Public,•K-6•1.8mi
7/10
South Shores/Csudh Visual And Performing Arts
Public,•K-5•2.0mi
9/10
Taper Avenue Elementary School
Public,•K-5•2.1mi
8/10
Mira Catalina Elementary School
Public,•K-5•2.6mi
4/10
Hawaiian Avenue Elementary School
Public,•K-5•3.1mi
6/10
Eshelman Avenue Elementary School
Public,•K-5•4.1mi
6/10
Harbor City Elementary School
Public,•K-5•4.3mi
4/10
Richard Henry Dana Middle School
Public,•6-8•0.3mi
8/10
Miraleste Intermediate School
Public,•6-8•2.5mi
7/10
Rudecinda Sepulveda Dodson Middle School
Public,•6-8•2.7mi
6/10
Alexander Fleming Middle School
Public,•6-8•4.4mi
4/10
Hudson K-8
Public,•K-8•6.2mi
6/10
San Pedro Senior High School
Public,•9-12•0.5mi
5/10
Phineas Banning Senior High School
Public,•9-12•4.6mi
5/10
Nathaniel Narbonne Senior High School
Public,•9-12•5.1mi
10/10
Palos Verdes Peninsula High School
Public,•9-12•5.9mi
3/10
Cabrillo High School
Public,•9-12•6.0mi
8/10
Palos Verdes High School
Public,•9-12•8.2mi

Price History

Date
Event
Price
02/22/01
Sold
$185,500
05/16/96
Sold
$125,000
08/26/16
Sold
$570,000
Condition Rating
Excellent
Despite being built in 1925, the property has undergone extensive and recent renovations, as stated in the description and confirmed by the images. The kitchens feature modern white shaker cabinets, contemporary countertops, and updated fixtures. Bathrooms are also fully updated with new vanities, modern tiling, and fixtures. New wood-look laminate flooring is present throughout most living areas, and the property boasts fresh interior and exterior paint. The overall condition reflects a 'turnkey' state with virtually new components, meeting current quality standards.
Pros & Cons

Pros

Strong Income Potential: Delivered completely vacant, this duplex allows for immediate market rent setting, boasting a pro forma 5.8% CAP Rate and $63,600 gross annual rent potential, ideal for investors or owner-occupants seeking supplemental income.
Extensive Recent Upgrades: The property is in turnkey condition, featuring fresh interior/exterior paint, new flooring, updated kitchens and baths, modern fixtures, and a redone outdoor patio, minimizing immediate capital expenditures for a new owner.
Prime Central San Pedro Location: Situated in a desirable area with convenient access to the LA Waterfront, major freeways, schools, dining, and shopping, enhancing its appeal to tenants and owner-occupants.
Versatile Investment Opportunity: The duplex configuration caters to a broad buyer pool, offering immediate income for investors and a strong house-hacking option for owner-occupants.
Individual Garages Per Unit: Each unit includes its own dedicated garage, providing valuable parking and storage solutions, a significant amenity in an urban environment.

Cons

Age of Property: Built in 1925, the property is nearly a century old. While updated, older construction may present potential for unforeseen structural or system-related issues not covered by recent cosmetic renovations.
Average Local School Ratings: The closest public schools (elementary, middle, and high) have average to below-average ratings, which might be a consideration for families prioritizing top-tier public education.
Unspecified Cooling System: The property description does not mention the presence of a cooling system (e.g., central air conditioning), which could be a comfort concern and potential future upgrade cost in Southern California's climate.

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