570 W 8th, San Pedro, CA 90731
- $1,450,000
- List Price
- $1,450,000
- Price Change
- ▼ $220,000 1787183268
- Status
- ACTIVE
- MLS#
- PW26089556
- Year Built
- 1984
- Lot Size
- 5,001
- Acres
- 0.11
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 139
- Property Type
- Multifamily
- Property Sub Type
- Apartment
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.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 12
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Balcony, Multiple Staircases
- Attached Structure
- Attached
- Number Of Units Total
- 8
- Gross Scheduled Income
- $117,600
- Operating Expense
- 56849
Listing courtesy of Listing Agent: Justin White (thesbgbp@gmail.com) from Listing Office: Justin White.
Mortgage Calculator
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