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Additional details
$ 1,450,000
Est. payment /mo
Price Dropped by $220K
570 W 8th San Pedro, CA 90731
6 Beds
4 Baths
5,001 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26089556
Bedrooms 6
Lot Size 5,001 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
570 W. 8th Street, an 8-unit apartment community 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. The Rent Correction Path: Immediate, Actionable, and Contractually Supported For occupied units, the path to market rents is two fold. First, the property is governed by California's AB 1482 Tenant Protection Act not the City of Los Angeles Rent Stabilization Ordinance, which applies only to buildings constructed on or before October 1, 1978. Under AB 1482, the current allowable annual increase is the lesser of 10% or 5% plus regional CPI, enabling meaningful and immediate progress toward market on existing tenancies. Second, and more significantly, vacancy decontrol is fully preserved under AB 1482 every unit that turns can be re-leased at full market rate with no ceiling.
Location
State CA
County Los Angeles
Zoning Public Rec
Direction East of Gaffey St. and West of S Pacific Ave
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 7454003016
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Listed by Justin White, DRE#01267826 Justin White
NEARBY SCHOOL & BUSINESS
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