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
- 46
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Two Levels
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.
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.