2424 S Gaffey, San Pedro, California 90731, San Pedro, 90731 - 2 bed, 2 bath
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San Pedro, California 90731
This Turnkey Income-Producing Asset is listed at $699,999, offering financial stability with a reliable tenant paying above-market rent. While positioned above the $645,032 Fair Market Value, the property’s Excellent Condition Rating and immediate cash flow justify the premium in a high-demand coastal market. Featuring Ocean and Harbor Views, a Modern Kitchen, and access to Taper Avenue Elementary (9/10) and Palos Verdes Peninsula High (10/10), this asset is primed for long-term appreciation. It is an ideal acquisition for Buy-and-Hold Investors or 1031 Exchange Buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2424 S Gaffey Subject | $699,999* List Price | 2 | 2 | 1,216 | $530 | - |
A 1214 S Alma Street 4 Sold | $570,000 | 2 | 2 | 1,318 | $432 | 0.9 mi |
B 3130 S Peck Avenue S 3 Sold | $675,000 | 2 | 2 | 1,343 | $503 | 0.5 mi |
C 665 W 24th Street 208 Active | $639,000 List Price | 2 | 2 | 1,222 | $523 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
Although originally built in 1975, the property has undergone an extensive recent renovation that brings it to modern standards. The interior features a contemporary kitchen with new cabinetry and upgraded countertops, modern flooring throughout, and sleek, updated fixtures. The property is described as a turnkey, low-maintenance unit with no deferred maintenance, meeting the criteria for a recently renovated home in excellent condition.
Elementary School: Taper Avenue Elementary School (9/10). High School: Palos Verdes Peninsula High School (10/10).
The property is sold with a reliable tenant already in place paying above-market rent, providing investors with guaranteed cash flow from the first day of ownership.
The unit features high-end contemporary upgrades, including new flooring, modern kitchen cabinetry, and sleek fixtures, ensuring a low-maintenance asset with high aesthetic appeal.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1216, other record living area = 1382. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 2, other record bedroom count = 3.
The $496 monthly HOA fee is a significant recurring expense that may impact the net ROI for investors or the monthly affordability for future owner-occupants.
Built in 1975, the building may face upcoming capital expenditures or maintenance issues related to aging common areas and systems, despite the individual unit's interior renovations.
This newly renovated and professionally furnished condo is being offered with a reliable tenant already in place paying above-market rent, providing immediate income from day one. The unit has been thoughtfully upgraded with modern flooring, contemporary kitchen cabinetry, upgraded countertops, sleek fixtures, and stylish finishes throughout, creating a low-maintenance property that attracts strong tenant demand. Located in a high-demand rental corridor of San Pedro, the property is minutes from the Port of Los Angeles, Cabrillo Beach, Downtown San Pedro’s waterfront redevelopment, dining, shopping, and major freeways—all key drivers of consistent rental demand. This is an ideal opportunity for investors seeking stable cash flow, a turnkey rental property, or a 1031 exchange replacement asset in a coastal market with strong long-term appreciation potential. A rare chance to acquire a renovated, income-producing property with built-in revenue from day one.
No exterior & parking available.
Grades K-6 • 0.6 mi
Grades K-5 • 0.7 mi
Grades K-6 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,216 | 1,178 | 50% |
| Lot Size | 11,669 | 12,450 | 45% |
| Price | $700.0K | $590.0K | 86% |
| Price per sq ft | $576 | $478 | 82% |
| Built year | 1975 | 1990 | 23% |
| HOA | $496.0 | $492 | 59% |
| Days on market | 40 | 187 | 5% |
Mar 13, 2026
$699,999
Initial Listing
Dec 3, 2021
$555,000
Public Record
Dec 3, 2021
$555,000
Public Record
Aug 2, 2018
$469,000
Public Record
May 12, 2016
$375,000
Public Record
Jul 13, 1999
$139,000
Public Record