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.
Details
| MLS # | PW26089556 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1984 |
| Days On Site | 192 |
| Listing Provided By | Justin White | Justin White |
Features
| SQ Feet | 7,192 |
|---|---|
| Garage | 12 |
| Story(s) | 3 |
| Units | 8 |
| Building(s) | 1 |
| Acreage | 0.11 |
Interior
| Interior Features | Balcony, Multiple Staircases |
|---|
Exterior
| Lot Features | Zero To One Unit Acre |
|---|
Parking
| Parking Features | Garage Faces Front, Garage Faces Rear |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Biking, Curbs, Suburban, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | San Pedro |
| Zip Code | 90731 |
| Area | 699 Not Defined |
| Listing VS Median (in 90731) | |
Price: $1,450,000 low | high Med: $749,000 sqft: 7,192 low | high Med: 1,269 $ / sqft: $202 low | high Med: $684 On site: 192 low | high Med: 61.5 | |
Market Activity 90731
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | San Pedro |
| Zip Code | 90731 |
| Area | 699 Not Defined |
| Listing VS Median (in 90731) | |
Price: $1,450,000 low | high Med: $749,000 sqft: 7,192 low | high Med: 1,269 $ / sqft: $202 low | high Med: $684 On site: 192 low | high Med: 61.5 | |
 | $1,195,000705 S PacificSan Pedro, CA 90731 |
 | $1,695,000626 W 7thSan Pedro, CA 90731 |