629 W 8th W, San Pedro, CA 90731
- $998,900
- List Price
- $998,900
- Price Change
- ▼ $1,000 1785274316
- Status
- ACTIVE
- MLS#
- PW26132952
- Year Built
- 1905
- Lot Size
- 5,001
- Acres
- 0.11
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 44
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Two Levels
Property Description
The fundamentals never change. This well-maintained 5-unit apartment building sits in one of San Pedro's fastest-changing corridors, offering investors immediate stability plus real upside. Each of the five units is a private 1-bed/1-bath apartment with its own separate utility meter, keeping management straightforward and turnover simple. A garage on-site adds extra income, currently rented out as storage. The numbers: 5.50% cap rate in place today, with a pro-forma cap rate of 7.42% as below-market units turn over — a path fully supported by California's Costa-Hawkins vacancy decontrol provisions. Location is what sets this property apart. It's minutes from Long Beach's booming Space & Defense corridor, and walking distance to the San Pedro waterfront revitalization, the LA Cruise Hub, and the new West Harbor development. Add the 2028 LA Olympics to the horizon, and this pocket of San Pedro is set up for years of sustained growth. This is a rare opportunity to own five units in a location with this much momentum behind it — and now, at a new price. Bring your investment strategy; the fundamentals are already here
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Additional Information
- Appliances
- Gas Oven, Gas Range, Refrigerator
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling Description
- None
- View
- None
- Exterior Construction
- Stucco
- Roof
- Rolled/Hot Mop
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Unfurnished, All Bedrooms Up, All Bedrooms Down
- Attached Structure
- Attached
- Number Of Units Total
- 5
- Gross Scheduled Income
- $96,624
- Operating Expense
- 21475
Listing courtesy of Listing Agent: Gustavo Arias (GustavoArias@firstteam.com) from Listing Office: First Team Real Estate.
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Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.