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
- 41
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Two Levels
Property Description
Price Reduction A rare find in one of San Pedro's most exciting stretches — 629–633 W 8th Street is a well-maintained 5-unit apartment building offering the stability today's investors are seeking. Each unit is a private 1-bed/1-bath apartment with a separate utility meter, making day-to-day management simple and tenant turnover smooth. The property also includes one garage, currently generating additional income as rented storage. Current in-place cap rate: 5.50%. Pro-forma cap rate: 7.42% as below-market units turn over, fully supported by California's Costa-Hawkins vacancy decontrol provisions. San Pedro is changing fast, and this property sits right in the middle of it. Just minutes from Long Beach's fast-growing Space & Defense corridor, and walking distance to the San Pedro waterfront revitalization, the LA Cruise Hub, and the new West Harbor development. With the 2028 LA Olympics also on the horizon, this pocket of San Pedro is positioned for years of continued growth and demand. Whether you're looking to add a turnkey income property to your portfolio or start building equity in a neighborhood on the rise, this is a rare chance to own five units in a location this well-positioned. Bring your investment strategy — the fundamentals are already in place.
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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.