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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 exceptional location - 629-633 W 8th Street delivers what today's investors are searching for: immediate stability with a clear path to more. Each unit is a private 1-bed/1-bath apartment with its own separate utility meter, making day-to-day management simple. An on-site garage adds bonus income, currently rented as storage. Here's the math: a 5.50% cap rate in place today, climbing to a 7.42% pro-forma as below-market units turn over - a path backed by California's Costa-Hawkins vacancy decontrol. But the numbers only tell half the story. This property sits 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. With the 2028 LA Olympics on the horizon, this corridor is one of San Pedro's fastest-changing pockets - and this is a rare chance to own five units right in the middle of it, now at a new price. The fundamentals haven't changed. The opportunity 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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