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Listed by Olga Wright • Lyon Stahl Investment Real Estate, Inc.
$ 2,050,000
Est. payment /mo
Active Under Contract
1038 South Walker Ave San Pedro, CA 90731
6,590 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 6,590 sqft
Price per Sqft $311
MLS Listing ID SB-25175372
Year Built 1985
Lot Size 6,250 Sqft
Property Sub-Type Apartment
Property Description
Prime Investment Opportunity Built in 1985 - Not Subject to LA City Rent Control (Only AB-1482)...Located in the sought-after Vista del Oro neighborhood, 1038 S Walker Ave is a well-maintained multifamily asset offering strong in-place income and substantial upside. The property features ample parking, and includes an additional unpermitted unit that was previously rented and now offers a straightforward ADU conversion opportunity. There's also an attached office/storage space adjacent to the communal laundry area, which presents potential for a second ADU or additional income through rental. The 6,590 SF building sits on a 6,250 SF lot, priced attractively at $311/SF, operating at a 5.07% CAP and 12.28 GRM. The property features a diverse unit mix with one 3-bedroom/3-bath and six 1-bedroom/1-bath units with some units offering private balconies, fireplaces, and exceptional ocean views. A spacious 3-bed, 3-bath townhouse-style unit is ideal for an owner-user or top-market rent. Located in a fast-growing area of San Pedro, fueled by over $500M in waterfront redevelopment and lifestyle improvements slated through 2026, this property is a rare opportunity in a market outperforming neighboring cities in both affordability and returns.
Location
State CA
County Los Angeles
Area 183 - Vista Del Oro
Interior
Laundry Community
Exterior
Parking Features Gated
Garage Spaces 1.0
Pool None
Community Features Curbs, Sidewalks, Street Lights, Urban
Building
Lot Description Landscaped, Park Nearby, Rectangular Lot
Sewer Public Sewer
Nicole Van Parys & Gary Nesen
License Partners, Private Office Advisors | License ID: 01108944