570 W 8th, San Pedro, CA 90731
List Price: $1.67M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1984
Lot Size: 5,001 sq ft
Garage Spaces: 12
Private Pool: Yes
MLS Number: PW26089556
About This Property
570 W. 8th Street is an 8-unit apartment located in San Pedro, California. Built in 1984, the property offers a rare combination of below-market cost basis, two immediate vacancy opportunities, and a well-documented rent correction story that positions the next owner to capture over $70,000 in additional annual gross income as the rent roll normalizes to market. An Exceptional Entry Price Relative to the Market At $1,670,000, this offering is priced at $208,750 per unit and $232 per square foot — both figures represent a meaningful discount to every relevant benchmark in the current San Pedro market. The three most recent sold comparables averaged $278,333 per unit and $348.72 per square foot. The subject property comes in 25% below the sold average on a per-unit basis and 33% below on a per-square-foot basis. The subject is 15% below the active average per unit and 28% below on a per-square-foot basis. Notably, on a price-per-square-foot basis, 570 W. 8th Street is priced below every single active listing in the submarket, regardless of vintage, condition, or unit count. This discount is not a rejection of deferred maintenance or physical obsolescence. It is a direct function of below-market rents held by long-term tenants — and that is precisely the opportunity a value add buyer is acquiring here. The property is not subject to Los Angeles RSO.
Listing provided by: Justin White DRE #01267826 714-231-2537 thesbgbp@gmail.com, Justin White
Source: CRMLS