629 W 8th W, San Pedro, California 90731, San Pedro, 90731 - 0 bed, 0 bath
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San Pedro, California 90731
Analysis of 629 W 8th W, San Pedro, California 90731 is currently available with a list price of $999,900. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the San Pedro Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Originally built in 1905, this 5-unit property is a 'stabilized asset' but shows clear signs of age. The lack of interior photos and the mention of 'below-market units' strongly suggest that kitchens and bathrooms are dated (likely 20+ years old) and require modernization. While the exterior appears functional and the roof on the main structure seems maintained, the property's age and the need for cosmetic updates to achieve market rents align with the 'Fair' classification.
Elementary School: Taper Avenue Elementary School (9/10). High School: Palos Verdes Peninsula High School (10/10).
The property offers an immediate 5.50% in-place cap rate with a pro-forma upside of 7.42%, providing a rare combination of immediate cash flow and significant growth potential.
Situated near the San Pedro waterfront redevelopment and the Long Beach Space & Defense corridor, the asset is perfectly positioned to benefit from massive infrastructure investment and high-paying employment hubs.
Built in 1905, the property may require higher-than-average capital expenditures for the maintenance of aging systems and structural components common in century-old buildings.
While the area has some high-performing schools, the immediate local elementary school is rated a 2, which could be a deterrent for long-term family tenants.
5-unit multifamily in the heart of San Pedro's transformation — and the timing couldn't be better. This stabilized asset at 629–633 W 8th Street delivers immediate cash flow at a 5.50% in-place cap rate with a clear path to 7.42% as below-market units turn over — fully supported by California's Costa-Hawkins vacancy decontrol provisions. Each unit is 1 bed / 1 bath with one-car garages and separate utility meters — a landlord-friendly setup from day one. The total building is 3,716 SF. The location does the heavy lifting: less than 10 minutes from Long Beach's booming Space & Defense corridor — home to Rocket Lab, Relativity Space, Anduril, and VAST — and steps from the San Pedro waterfront redevelopment, the LA Cruise Hub, and the official FIFA World Cup 2026 Fan Zone at West Harbor. The 2028 LA Olympics add another layer to an already compelling long-term growth story. San Pedro isn't a speculative bet — it's a community mid-transformation with the institutional backing, infrastructure investment, and proximity to one of LA's fastest-growing employment corridors to support sustained appreciation and rental growth.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.5 mi
Grades K-6 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,716 | 7,598 |
| Lot Size | 5,001 | 8,354 |
| Price | $999.9K | $1.48M |
| Price per sq ft | $269 | $227 |
| Built year | 1905 | 1964 |
| HOA | $0 | $0 |
| Days on market | 34 | 80 |
Jun 18, 2026
$999,900
Initial Listing
Jun 18, 2021
$1,050,000
Public Record
Jul 14, 2017
$960,000
Public Record
Oct 7, 2016
$598,000
Public Record