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328 N Centre Street, San Pedro, California 90731, San Pedro, 90731 - bed, bath

328 N Centre Street, San Pedro, California 90731 home-pic-0
ACTIVE$965,000
328 N Centre Street, San Pedro, California 90731
0Bed
0Bath
3,092Sqft
4,950Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Great Schools: Elementary School: Taper Avenue Elementary School (9/10). High School: Palos Verdes Peninsula High School (10/10).
Top Cons:
Tenant-Occupied Delivery Constraints: Being delivered with existing tenants means the new owner inherits current lease agreements, which may limit immediate rent adjustments to market rates or hinder immediate owner-occupancy plans.

Compared to the nearby listings

Price:$965.0K vs avg $1.06M ($-99,500)43%
Size:3,092 sqft vs avg 2,387.5 sqft62%
Price/sqft:$312 vs avg $41917%

More Insights

Built in 1987 (38 years old).
Condition: Built in 1987, this property is 37 years old. While the description mentions 'several key updates in recent years,' the provided images, particularly of the kitchen, show significantly outdated features. The kitchen has tile countertops, white square tile backsplash, and dated white appliances, along with older style white cabinets. These elements suggest that any recent updates were not extensive enough to modernize the core components of the kitchen. The vertical blinds in another room also point to an older aesthetic. The property appears functional and maintained, but the kitchen, a critical area, is clearly aged and would require substantial renovation to meet current quality and style standards, aligning with the 'fair' condition criteria of being aged but maintained, with major components showing signs of being outdated.
Year Built
1987
Close
-
List price
$965K
Original List price
$1M
Price/Sqft
$312
HOA
-
Days on market
-
Sold On
-
MLS number
DW25034301
Home ConditionFair
Features
Good View:
Patio
View-

About this home

Occupy one unit and rent the other! In addition to the three bedrooms in each unit, there is a BONUS room with a closet that can easily be used as a 4th bedroom, increasing the potential for rental income. This extra room in each unit provides flexibility for tenants who need additional space, making it a great option for those who require a home office, den, or additional sleeping area. This property is an ideal choice for those looking to occupy one unit and rent the other or to those who want to complete a 1031 exchange or for investors seeking an excellent opportunity in a thriving market. Located just three blocks from the breathtaking 42-acre San Pedro waterfront promenade, this spacious duplex offers an incredible investment opportunity in one of the most desirable neighborhoods of San Pedro, California. Strolling distance from the scenic harbor, ships, an outdoor amphitheater, and the historic Red Car Train, this property is perfectly situated for both renters and investors alike. Within minutes, you'll find shopping, dining, and easy access to the freeway—making it an ideal spot for tenants. This property boasts a stunning upstairs view of the picturesque Palos Verdes Hills, adding additional appeal for potential tenants seeking both comfort and convenience. Built in 1987 and not subject to rent control (as per the RSO website), this duplex presents an excellent opportunity to capitalize on San Pedro's strong rental market. The property consists of two spacious units, each with 3 bedrooms and 2.5 bathrooms, offering ample space for tenants. The large living rooms are incredibly spacious, with the potential to convert one of the living areas into a 4th bedroom, increasing the rental value. This flexibility makes it even more appealing for investors. Currently tenant-occupied and set to be delivered with tenants in place, this property promises ready cash flow with room for significant rental upside. With the strong demand for rental properties in San Pedro, this is an exceptional opportunity for anyone looking to generate immediate returns while holding onto a valuable asset with further potential for growth. This duplex has undergone several key updates in recent years, enhancing both its aesthetic appeal and functionality.

Nearby schools

2/10
Barton Hill Elementary School
Public,•K-6•0.3mi
3/10
Cabrillo Avenue Elementary School
Public,•K-5•0.9mi
5/10
Bandini Street Elementary School
Public,•K-6•0.9mi
5/10
Fifteenth Street Elementary School
Public,•K-5•1.1mi
9/10
Park Western Place Elementary School
Public,•K-5•1.3mi
9/10
Taper Avenue Elementary School
Public,•K-5•1.4mi
5/10
Crestwood Street Elementary School
Public,•K-6•1.7mi
4/10
Seventh Street Elementary School
Public,•K-5•1.7mi
5/10
Leland Street Elementary School
Public,•K-6•1.8mi
4/10
Hawaiian Avenue Elementary School
Public,•K-5•2.1mi
7/10
White Point Elementary School
Public,•K-6•2.5mi
7/10
South Shores/Csudh Visual And Performing Arts
Public,•K-5•2.8mi
8/10
Mira Catalina Elementary School
Public,•K-5•2.9mi
6/10
Eshelman Avenue Elementary School
Public,•K-5•3.4mi
6/10
Harbor City Elementary School
Public,•K-5•3.5mi
4/10
Richard Henry Dana Middle School
Public,•6-8•1.2mi
7/10
Rudecinda Sepulveda Dodson Middle School
Public,•6-8•2.3mi
8/10
Miraleste Intermediate School
Public,•6-8•2.5mi
6/10
Alexander Fleming Middle School
Public,•6-8•3.7mi
4/10
Hudson K-8
Public,•K-8•5.2mi
6/10
San Pedro Senior High School
Public,•9-12•1.4mi
5/10
Phineas Banning Senior High School
Public,•9-12•3.6mi
5/10
Nathaniel Narbonne Senior High School
Public,•9-12•4.3mi
3/10
Cabrillo High School
Public,•9-12•5.1mi
10/10
Palos Verdes Peninsula High School
Public,•9-12•5.7mi
8/10
Palos Verdes High School
Public,•9-12•8.2mi
Condition Rating
Fair
Built in 1987, this property is 37 years old. While the description mentions 'several key updates in recent years,' the provided images, particularly of the kitchen, show significantly outdated features. The kitchen has tile countertops, white square tile backsplash, and dated white appliances, along with older style white cabinets. These elements suggest that any recent updates were not extensive enough to modernize the core components of the kitchen. The vertical blinds in another room also point to an older aesthetic. The property appears functional and maintained, but the kitchen, a critical area, is clearly aged and would require substantial renovation to meet current quality and style standards, aligning with the 'fair' condition criteria of being aged but maintained, with major components showing signs of being outdated.
Pros & Cons

Pros

Great Schools: Elementary School: Taper Avenue Elementary School (9/10). High School: Palos Verdes Peninsula High School (10/10).
Exceptional Investment Flexibility: The duplex offers significant investment flexibility, allowing for owner-occupancy with rental income or pure investment. Each unit includes a bonus room with a closet, easily convertible to a 4th bedroom, and the potential to convert living areas into additional bedrooms, maximizing rental income potential.
Exemption from Rent Control: Built in 1987, the property is explicitly stated as not subject to rent control, providing a crucial advantage for investors by allowing market-rate rent adjustments and greater control over rental income.
Prime Waterfront-Adjacent Location: Located just three blocks from the 42-acre San Pedro waterfront promenade, with walking distance to the harbor, ships, an outdoor amphitheater, and the historic Red Car Train, this location is highly desirable for tenants, offering convenience to amenities, dining, shopping, and freeway access.
Immediate Cash Flow & Rental Upside: The property is delivered tenant-occupied, ensuring immediate cash flow for the new owner. The description also highlights 'room for significant rental upside,' indicating potential for increased income generation.
Recent Updates & Scenic Views: The duplex has undergone several key updates in recent years, enhancing its aesthetic appeal and functionality. Additionally, the upstairs unit offers a picturesque view of the Palos Verdes Hills, adding a desirable feature for potential tenants.

Cons

Tenant-Occupied Delivery Constraints: Being delivered with existing tenants means the new owner inherits current lease agreements, which may limit immediate rent adjustments to market rates or hinder immediate owner-occupancy plans.
Unspecified Extent of Updates: While 'several key updates' are mentioned, the description lacks specific details on what was updated, when, and to what extent, potentially leaving room for unknown deferred maintenance or areas requiring further investment.
Price Adjustment History: The property has seen a price reduction from its original list price of $1,000,000 to $965,000, which could suggest it was initially overpriced or faced challenges in attracting buyers at the higher price point.

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