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Listed by Gustavo Arias, DRE #01889399 • First Team Real Estate
$ 998,900
Est. payment /mo
Price Dropped by $1K
629 W 8th San Pedro, CA 90731
5,001 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26132952
Year Built 1905
Lot Size 5,001 Sqft
Source California Regional MLS
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.
Location
State CA
County Los Angeles
Area 193 - San Pedro - North
Rooms
Kitchen Oven Range - Gas, Refrigerator, Oven - Gas
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate
Laundry None
Exterior
Parking Features No Parking
Garage Spaces 1.0
Pool 31, None
View None
Roof Type Rolled Composition
Building
Foundation Raised
Water District - Public
Others
Tax ID 7454005010
Special Listing Condition Not Applicable
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