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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
Five doors, one location that's hard to beat - 629-633 W 8th Street offers exactly what savvy investors are chasing right now: steady income today, with real room to grow. Each unit is a private 1-bed/1-bath apartment on its own separate utility meter, keeping day-to-day operations straightforward. A garage on the property adds extra income, currently leased out as storage. The numbers speak for themselves: a 5.50% cap rate in place today, with upside to 7.42% pro-forma as below-market units turn over - supported by California's Costa-Hawkins vacancy decontrol. Location does the rest of the work. Minutes from Long Beach's fast-growing Space & Defense corridor, and walking distance to San Pedro's waterfront revitalization, the LA Cruise Hub, and the new West Harbor development. With the 2028 LA Olympics approaching, this is one of San Pedro's fastest-evolving corridors - and a rare shot at owning five units right in the middle of it, now at a new price. The fundamentals are still here. The timing has never been better.
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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