456 W 40th, San Pedro, California 90731, San Pedro, 90731 - 3 bed, 2 bath
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456 W 40th
San Pedro, California 90731
ACTIVE UNDER CONTRACT
CONDITION: POOR
3Beds
2Baths
2,388Sq Ft
6,101Lot Size
Property Price
LIST PRICE$1,050,000
EST. MARKET VALUE
$1,030,542
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,295,000—positioned well above the $1,117,509 Fair Market Value by -15%. While the property requires a full renovation given its Condition Rating of 5, the expansive 6,101-square-foot lot and spectacular harbor and bluff views provide a rare canvas for value-add redesigns. Proximity to top-rated schools like Taper Avenue Elementary and Palos Verdes Peninsula High adds long-term appeal. This is a strategic acquisition for Fix-and-Flip Investors or Contractors seeking a significant coastal project.
Estimated Market Value
$1,030,542
Based on Realkey algorithm analyzing recent comparable sales in San Pedro.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1925, this property is over 30 years old with no recent renovations and requires a complete rehab. The interior is highly dated, featuring heavily worn blue carpeting, wood paneling, old wall heating units, and a kitchen with outdated cabinetry and tile countertops. The listing description explicitly highlights the property's potential for a major renovation and advises buyers to bring a contractor.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Taper Avenue Elementary School (9/10). High School: Palos Verdes Peninsula High School (10/10).
- Prime Coastal Location
Situated in a highly desirable San Pedro neighborhood just one block from Paseo Del Mar, offering spectacular views of Cabrillo Beach and the Pacific Ocean.
- Generous Lot and Living Space
Features a spacious 2,388-square-foot layout on an expansive 6,101-square-foot lot, complete with a large backyard, wood deck, and an in-ground fiberglass spa.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2388, other record living area = 1062. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
- Significant Renovation Required
Built in 1925, the property is explicitly marketed as a fixer-upper requiring a contractor, imagination, and substantial additional capital investment.
- Lower-Rated Nearby Schools
The closest elementary school, Cabrillo Avenue Elementary, carries a low rating of 3, which may be a drawback for families prioritizing top-tier public education.
About 456 W 40th
NEW PRICE, INCREDIBLE POTENTIAL! A rare opportunity awaits in one of San Pedro’s most desirable residential areas. Situated on an expansive 6,101-square-foot lot, this two-story, three-bedroom, two-bath home offers approximately 2,388 square feet of living space and exceptional potential for a buyer ready to create their dream home. The functional floor plan features two bedrooms and one bathroom on the main level, with a spacious primary suite located upstairs. Enjoy spectacular views of Cabrillo Beach right from your front yard, and take advantage of being just one block from Paseo Del Mar, where you can enjoy breathtaking views of the Pacific Ocean. The property is also conveniently located near shopping, dining, parks, entertainment, and, best of all, the beach. The property offers a large backyard, a wood deck, and an in-ground fiberglass spa. Whether you envision a stunning renovation or a thoughtful redesign, 456 W. 40th Street offers the location, lot size, views, and opportunity to bring your vision to life. Bring your imagination, your contractor, and your vision—this home is ready for its next chapter.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1925
- Lot Size
- 6,101 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Pedro Unified Schools
White Point Elementary School
Grades K-6 • 1.3 mi
7/10
Leland Street Elementary School
Grades K-6 • 1.4 mi
5/10
Fifteenth Street Elementary School
Grades K-5 • 1.5 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.1 |
| Square foot | 2,388 | 1,533.653 |
| Lot Size | 6,101 | 5,312.227 |
| Price | $1.05M | $1.02M |
| Price per sq ft | $440 | $644 |
| Built year | 1925 | 1951 |
| HOA | $0 | $275 |
| Days on market | 50 | 53 |
Pricing History
Listed for Sale
Oct 11, 2026
$1,050,000
$1,295,000
-19% Price Drop
Initial Listing
Price Change
Sep 5, 2026
$1,295,000
Initial Listing