672 W 23rd, San Pedro, California 90731, San Pedro, 90731 - 2 bed, 1 bath
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San Pedro, California 90731
This property presents a High-Potential Investment Opportunity with a List Price of $710,000—positioned well above the $557,224 Fair Market Value by -27%. Featuring LARD1.5 zoning and a 5,000 sq. ft. lot with street-to-alley access, this asset offers significant development upside. Given the Condition Rating of 6, the structure requires extensive renovation, making it a strategic acquisition for Developers and Fix-and-Flip Investors. Proximity to San Pedro Senior High and Richard Henry Dana Middle School adds long-term neighborhood appeal for future residential projects.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 672 W 23rd Subject | $710,000* List Price | 2 | 1 | 840 | $663 | - |
A 2937 S Carolina Street Sold | $580,000 | 2 | 1 | 890 | $652 | 0.5 mi |
B 1338 W 27th Street Sold | $712,000 | 3 | 1 | 965 | $738 | 0.9 mi |
C 1223 W 23rd Street Sold | $705,000 | 3 | 1 | 972 | $725 | 0.7 mi |
D 1221 W 13th Street Sold | $690,000 | 2 | 1 | 936 | $737 | 0.9 mi |
E 2691 S Cabrillo Active | $699,000 List Price | 2 | 1 | 832 | $840 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
The property was built in 1925 (99 years old) with no evidence of modern renovations. The kitchen is non-functional and severely dated, flooring is stripped or damaged throughout, and the listing explicitly requires 'all-cash' due to the condition, indicating it is likely unlivable and valued primarily for the 5,000 sq. ft. LARD1.5 lot.
Elementary School: Taper Avenue Elementary School (9/10). High School: Palos Verdes Peninsula High School (10/10).
The property features desirable LARD1.5 zoning on a generous 5,000 sq. ft. lot, offering significant opportunities for multi-unit development or expansion in a growing San Pedro submarket.
The unique lot configuration provides dual access from both the street and the alley, which is a highly sought-after feature for maximizing construction logistics or adding an ADU.
The existing 1925 structure is in poor condition and requires substantial investment for repairs or a complete teardown, making it unsuitable for immediate occupancy.
Due to the property's current state, the listing is restricted to cash offers only, which significantly limits the pool of potential buyers by excluding those reliant on traditional mortgages.
Cash Offers Only...Opportunity knocks in San Pedro! Situated on a generous 5,000 sq. ft. street-to-alley lot with desirable LARD1.5 zoning, this fixer offers tremendous potential for investors, developers, or buyers looking to create their vision. The existing home features 2 bedrooms, 1 bathroom, and approximately 840 sq. ft. of living space. The lot configuration provides convenient access from both the street and alley, enhancing future possibilities. Property is being sold in its present condition and will require significant repairs; all-cash offers only due to condition. Whether you’re considering renovation, expansion, or exploring development opportunities, this property presents a rare chance to add value in a growing San Pedro location. Buyers are advised to independently verify zoning, development potential, and all property information with the appropriate agencies.
No exterior & parking available.
Grades K-6 • 0.5 mi
Grades K-5 • 0.6 mi
Grades K-5 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 38% |
| Baths | 1.0 | 2.0 | 36% |
| Square foot | 840 | 1,254 | 17% |
| Lot Size | 5,001 | 5,001 | 50% |
| Price | $710.0K | $807.5K | 28% |
| Price per sq ft | $845 | $637 | 83% |
| Built year | 1925 | 1938 | 36% |
| HOA | $0 | $0 | 50% |
| Days on market | 13 | 131 | 7% |
Jun 1, 2026
$710,000
Initial Listing