684 W 23rd Street, San Pedro, California 90731, San Pedro, 90731 - bed, bath
ACTIVE$1,145,000
684 W 23rd Street, San Pedro, California 90731
0Bed
0Bath
3,266Sqft
5,001Lot
Year Built
1999
Close
-
List price
$1.15M
Original List price
$1.2M
Price/Sqft
$351
HOA
-
Days on market
-
Sold On
-
MLS number
SB25233883
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.15M(52th), sqft - 3266(64th), beds - undefined(50th), baths - undefined(50th).
Large 1999 construction non-rent controlled (RSO) triplex with 100% townhome style units. Extra large 2 story owner's unit in front with 3 beds and 2.5 baths plus attached 2 car garage. Two more large 2 story townhome style units in rear with 2 beds and 1.5 baths each. Parking lot in rear with 4 spaces for rear units. Well priced at 13.2X GRM on actuals plus a 27% upside to a GRM of 10.4X and a 6.3% cap rate at market rents. Beautiful Point Fermin location only 3 blocks to Cabrillo Marina and a few blocks to Cabrillo Beach. Less than a mile from the massive 42 acre West Harbor LA Waterfront development with over a mile of waterfront access and 375,000 square feet of retail, dining, and entertainment slated to open in 2026. Close proximity to Downtown San Pedro with art galleries, restaurants, boutiques, and other retail.
Nearby schools
5/10
Leland Street Elementary School
Public,•K-6•0.5mi
5/10
Fifteenth Street Elementary School
Public,•K-5•0.6mi
3/10
Cabrillo Avenue Elementary School
Public,•K-5•1.0mi
7/10
White Point Elementary School
Public,•K-6•1.1mi
4/10
Seventh Street Elementary School
Public,•K-5•1.5mi
2/10
Barton Hill Elementary School
Public,•K-6•1.6mi
5/10
Bandini Street Elementary School
Public,•K-6•1.6mi
7/10
South Shores/Csudh Visual And Performing Arts
Public,•K-5•1.7mi
5/10
Crestwood Street Elementary School
Public,•K-6•2.2mi
9/10
Park Western Place Elementary School
Public,•K-5•2.2mi
9/10
Taper Avenue Elementary School
Public,•K-5•2.7mi
8/10
Mira Catalina Elementary School
Public,•K-5•2.7mi
4/10
Hawaiian Avenue Elementary School
Public,•K-5•3.7mi
6/10
Eshelman Avenue Elementary School
Public,•K-5•4.6mi
6/10
Harbor City Elementary School
Public,•K-5•4.9mi
4/10
Richard Henry Dana Middle School
Public,•6-8•0.5mi
8/10
Miraleste Intermediate School
Public,•6-8•2.8mi
7/10
Rudecinda Sepulveda Dodson Middle School
Public,•6-8•3.2mi
6/10
Alexander Fleming Middle School
Public,•6-8•4.9mi
4/10
Hudson K-8
Public,•K-8•6.7mi
6/10
San Pedro Senior High School
Public,•9-12•0.6mi
5/10
Phineas Banning Senior High School
Public,•9-12•5.2mi
5/10
Nathaniel Narbonne Senior High School
Public,•9-12•5.6mi
10/10
Palos Verdes Peninsula High School
Public,•9-12•6.1mi
3/10
Cabrillo High School
Public,•9-12•6.5mi
8/10
Palos Verdes High School
Public,•9-12•8.3mi
Price History
Date
Event
Price
11/05/25
Price Change
$1,145,000-4.2%
10/06/25
Listing
$1,195,000
12/22/17
Sold
$906,000
05/14/12
Sold
$590,000
Condition Rating
Fair
Built in 1999, this property is 25 years old. While appearing well-maintained and functional, the interior, particularly the kitchens and bathrooms, reflects the original construction era. Kitchens feature dated white appliances, wood cabinets, and laminate countertops. Bathrooms have older style vanities, tile flooring, and strip lighting. The property is clean and livable but requires significant aesthetic updates to meet current market expectations and modern design standards.
Pros & Cons
Pros
Investment Potential & Financial Upside: The property is well-priced with a 13.2X GRM on actuals, offering a significant 27% upside to a 10.4X GRM and a 6.3% cap rate at market rents, indicating strong potential for increased profitability.
Modern Construction & Non-Rent Controlled: Built in 1999, this triplex is relatively new construction for a multi-unit property and is non-rent controlled (RSO), providing greater flexibility and control over rental income.
Desirable Townhome Style Units: All units are spacious, 2-story townhome style, including an extra-large 3-bed/2.5-bath owner's unit with an attached 2-car garage, appealing to a broader tenant base or owner-occupant seeking more privacy and space.
Prime Coastal Location & Amenities: Situated in the beautiful Point Fermin area, the property is only 3 blocks from Cabrillo Marina and Cabrillo Beach, with close proximity to Downtown San Pedro's art galleries, restaurants, and boutiques.
Future Development Impact: Located less than a mile from the massive 42-acre West Harbor LA Waterfront development, slated to open in 2026, which is expected to significantly boost property values and area desirability with new retail, dining, and entertainment.
Cons
Recent Price Reduction: The property has undergone a recent price reduction from $1.195M to $1.145M, which could suggest initial overpricing or a longer time on market, potentially indicating a need for a quicker sale.
No Explicit Mention of Individual Utility Metering: For an income property, the absence of explicit mention of individual utility meters for each unit could imply shared utilities, potentially leading to higher operating costs for the landlord.
Limited Parking for Front Unit: While rear units benefit from a dedicated 4-space parking lot, the front owner's unit only explicitly mentions an attached 2-car garage, potentially limiting additional parking options for residents or guests of that unit.