Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    230 W 15Th St San Pedro, CA 90731

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,089,999

    Two-unit multifamily property near Downtown Long Beach with strong rental potential.

    Lot size:
    0.11 Acres

    Property Features for 230 W 15Th St

    General Information

    Property type
    Investment
    Standard status
    Active
    Lot size
    0.11 Acres

    Building Details

    Year built
    2002

    We can help!

    Listing Contact
    Marcos Zeledon
    Source: Elliman

    Listing Agency: HomeSmart Professionals Listing Agent: Marcos Zeledon

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Multifamily Property Near Long Beach

    Located approximately 15 minutes from Downtown Long Beach, this two-unit multifamily property at 230-232 W 15th Street presents an investment opportunity. Each unit features a 3-bedroom, 2-bathroom floor plan. The bottom unit includes laundry hookups. The property has two separate electric and water meters. The garage is detached and located at the back of the property, adjacent to the alley, with parking space for up to six cars. The space next to the garage is suitable for outdoor activities. Situated in a high-demand rental market, the property is near the Aquarium of the Pacific, The Queen Mary, Shoreline Village, shopping centers, dining options, public transportation, major freeways, and the beach. This property may appeal to both investors seeking cash flow and buyers interested in generating income while occupying one of the units.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Pedro
    County
    Los Angeles
    State
    California
    Longitude
    -118.291
    Latitude
    33.7377

    Nearby Similar for Sale

    • New
      $1,275,000
      8,500 SF

      San Pedro Retail Investment Opportunity

      Three-unit retail building in San Pedro's revitalization area.
      705 S Pacific Ave, San Pedro, CA 90731
      View Details
    • New
      $3,200,000
      4,320 SF

      San Pedro Commercial Building For Sale

      Prime commercial building in San Pedro, ideal for medical use.
      571 W 7Th St, San Pedro, CA 90731
      View Details
    • $45,000

      Profitable Salon Business Opportunity

      Successful salon business for sale with existing stylists and equipment.
      1931 N Gaffey St, San Pedro, CA 90731
      View Details
    • $649,000
      1,836 SF

      Craftsman Duplex in San Pedro

      Charming 1918 Craftsman duplex in high-demand San Pedro rental pocket.
      925 S Grand Ave, San Pedro, CA 90731
      View Details
    • $799,000
      1,452 SF

      San Pedro Duplex with Updates

      Updated duplex in San Pedro's Barton Hill, tenant-occupied and Section 8 approved.
      322 S Grand Ave, San Pedro, CA 90731
      View Details
    • $924,900
      1,773 SF

      Two Detached Homes on Large Lot

      Two homes on a 4,801 sq. ft. lot.
      234 W.12th St St, San Pedro, CA 90731
      View Details
    • $1,469,000
      2,797 SF

      San Pedro Quadruplex Investment Opportunity

      Four-unit property in San Pedro, CA, with recent renovations.
      1054 W 23Rd St, San Pedro, CA 90731
      View Details
    • $1,469,000
      2,797 SF

      San Pedro Quadruplex Investment Opportunity

      Four-unit property in San Pedro, CA, with recent renovations.
      1054 W 23Rd St, San Pedro, CA 90731
      View Details
    • New
      $1,699,000
      4,058 SF

      San Pedro Quadruplex with Harbor Views

      Desirable San Pedro quadruplex with city and harbor views.
      719 Oro Ter, San Pedro, CA 90731
      View Details
    • $675,000
      1,624 SF

      Income Property in San Pedro

      Two stand-alone houses on one lot, excellent investment opportunity.
      578 W Oliver St, San Pedro, CA 90731
      View Details
    • $1,695,000
      5,616 SF

      San Pedro Multifamily Investment Opportunity

      High-yield, remodeled 10-unit property near downtown San Pedro.
      626 W 7Th St, San Pedro, CA 90731
      View Details
    • $1,195,000
      4,547 SF

      San Pedro Quadruplex Near Waterfront

      Four-unit property near LA Waterfront development with significant upside potential.
      358 W 17Th St, San Pedro, CA 90731
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit multifamily property near Downtown Long Beach with strong rental potential.
    Where is this duplex located?
    The property is located at 230 W 15Th St San Pedro, CA.
    What is the asking price?
    The asking price for this property is $1,089,999.
    What are key features of this property?
    This property features: - Two units, each boasting a spacious 3-bedroom, 2-bathroom floor plan, ideal for rental income or multi-generational living.; - Conveniently located just 15 minutes from Downtown Long Beach and close to attractions like The Aquarium of the Pacific and The Queen Mary.; - Strong rental market location with easy access to shopping, dining, public transportation, and major freeways.
    (310) 403-7061
    Request Owner's contact information
    230 W 15Th St San Pedro, CA 90731
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    230 W 15Th St
    San Pedro, CA 90731
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    230 W 15Th St San Pedro, CA 90731
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Marcos Zeledon
    (310) 403-7061 (760) 844-7500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!