El Prado

Highlights:

• Superior 1974 Construction Quality
• First Time Ever Available For Sale
• Exceptionally Cared for by Original Developer
• Unbeatable Location in San Pedro – Palisades Neighborhood, Bordering Vista Del Oro
• 3 Min. from San Pedro’s Famous “Stairway to the Ocean” Featuring Beach and Tide Pools
• Private Balconies in Every Unit with Views of Catalina and Miraleste Hill (AB 721 Balcony Work Completed)
• 36 Secured Parking Spaces + Private Storage for Tenants + Ample Bike Storage
• Onsite, Owned Laundry Generating $8,016 Annually
• Elevator for Tenants’ Convenience (Serviced Monthly)
• Common Area Sun Deck for Tenants’ Enjoyment
• Convert Previously Owner-Used Garages and Storage to ADUs or Lease As-Is
• 71% Upside in NOI via Strategic Value Add Program
• $1.6M First-Year Depreciation Write-Off via Cost Segregation & 100% Bonus Depreciation (Estimated for Qualified Real Estate Professionals)

Description:

Offered for the first time since it was built, El Prado is a 26-unit building in San Pedro’s Palisades neighborhood, bordering Vista Del Oro. Built in 1974 and cared for by the original developer, the property has quality construction, an elevator, a common sun deck, 36 secured parking spaces, private storage, bike storage and an owned laundry room. Every unit has a private balcony, many with views of Catalina and Miraleste Hill, and the SB 721 balcony work is complete. The mix includes (16) 1/1, (5) 2/1, (2) 2/2, (2) 3/2 and (1) 2/1.5 townhome on a 20,974 SF lot. Rents are well below market, with one-bedrooms averaging $1,522 vs. $2,524 for nearby comps. Former owner-used garages and storage offer ADU potential. Not flagged by LADBS as a soft-story building. About 3 minutes from the Stairway to the Ocean, beach and tide pools.

Rare, Premier San Pedro Location – Palisades Neighborhood, Bordering Vista Del Oro

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