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… Read More 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. Read Less
Property listed by Justin White, Justin White 310-259-7556
Listing Snapshot
Days Online
18
Last Updated
Property Type
Apartment
Lot Size
0.11 Acres
Year Built
1984
MLS Number
PW26089556
Additional Details
Building
Built in 1984, 1 building, 3 stories, Entry level: 1, Entry location: 1
Community
Biking, Curbs, Suburban, Urban
Expenses
Operating: $56,849
Garage
12 spaces
Income
Gross ScheduledIncome: $117,600, Net Operating Income: $54,871
Interior Features
Balcony, MultipleStaircases
Laundry
CommonArea
Lot
0.1148 acres, ZeroToOneUnitAcre
Parking
12 total parking spaces, GarageFacesFront, GarageFacesRear
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.
Michael Harby
or message me directly
Find My Dream Home
Put an experts eye on your home search! You’ll receive personalized matches of results delivered direct to you.
Import This Listing
Import Completed
To view your listing, click one of the options below.
