1381 W 8th St, San Pedro, CA 90732

1381 W 8th St, San Pedro, CA 90732

San Pedro, CA
$1,450,000.00

Property Description

An extraordinary opportunity awaits to acquire a unique 5-unit income property, featuring a distinctive 4-Bedroom/3-Bathroom custom home owner’s unit spanning 1,875 sqft, constructed in 1991. This is an ideal opportunity for a family to live on the top floor 4-bedroom owner’s unit and let the other four units generate income to offset their mortgage. The primary front unit is comprised of the owner’s unit, as well as two 2-bed/1-bath units beneath it. The entire structure, including windows for the two first-floor apartments underwent upgrades during the 1991 construction. The owner’s unit boasts double-pane French doors offering views of the San Pedro Hills, a living room featuring vaulted ceilings, ceiling fans, and balconies. Additional highlights include a separate dining room with an elegant chandelier and marble floors, a custom-tiled kitchen a floor-to ceiling marble fireplace, master bedroom with a walk-in closet, and central air-conditioning and heating. The rear building stands as a separate structure, hosting two 1-bed/1- bath units positioned above four parking garages, complemented by two open parking spaces on the side of the garage. Situated in the Upper Hills of San Pedro, the property enjoys a secure neighborhood setting, with Shoppes at Weymouth Corners just across the street. Additionally, Averill Park is only four blocks away- perfect for a family!

Property Features

  • Sale Price: $1,450,000.00
  • Area Size: 4,703 Sq. Ft.
  • Land Area: 8,108 Sq. Ft.
  • Year Built: 1965
  • Listing Date: 1/17/2024
  • Closing Date: 2/26/2024
  • Units: 5
  • Current GRM: 13.22
  • Current Cap Rate: 5.13%
  • Price Per Unit: $300,000
  • Market GRM: 10.42
  • Market Cap Rate: 7.10%
  • Current NOI: $76,883