570 W 8th, San Pedro, CA 90731
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570 W 8th, San Pedro, CA 90731
570 W 8th, San Pedro, CA 90731
570 W 8th, San Pedro, CA 90731
570 W 8th, San Pedro, CA 90731
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Tony Choi

Tony Choi

+1(949) 992-8199
$ 1,670,000
Est. payment /mo
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570 W 8th San Pedro, CA 90731

5,000 Sqft Lot

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26089556

HOA Y/N No

Year Built 1984

Lot Size 5,000 Sqft

Property Sub-Type Apartment

Property Description

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.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Interior

Interior Features Balcony, Multiple Staircases

Fireplace No

Laundry Common Area

Exterior

Parking Features Garage Faces Front, Garage Faces Rear

Garage Spaces 12.0

Garage Description 12.0

Pool None

Community Features Biking, Curbs, Suburban, Urban

Total Parking Spaces 12

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 3

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 7454003016

Acceptable Financing Cash, 1031 Exchange

Listing Terms Cash, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Justin White Justin White 714.231.2537, DRE #01267826

NEARBY SCHOOL & BUSINESS

Tony Choi

Tony Choi

President / Broker | License ID: 01783581

+1(949) 992-8199

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570 W 8th