629 W 8th W, San Pedro, CA 90731
- $998,900
List Agent Gustavo Arias () First Team Real Estate; CoList ()
- List Price
- $998,900
- Price Change
- ▼ $1,000 1785274316
- Status
- ACTIVE
- MLS#
- PW26132952
- Year Built
- 1905
- Lot Size
- 5,001
- 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
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
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Based on information from CRISNet MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.