570 West 8th Street, Los Angeles, CA 90731 For Sale

For sale by the original developer, 570 W. 8th Street, an 8-unit apartment community located in San Pedro, California. Built in 1984, the property offers a rare combination of below-market cost basis, two immediate vacancy opportunities, and a well-documented rent correction story that positions the next owner to capture over $70,000 in additional annual gross income as the rent roll normalizes to market.

At $1,670,000, this offering is priced at $208,750 per unit and $232 per square foot — both figures represent a meaningful discount to every relevant benchmark in the current San Pedro market.

Notably, on a price-per-square-foot basis, 570 W. 8th Street is priced below every single active listing in the submarket, regardless of vintage, condition, or unit count. The two active listings that price below the subject on a per-unit basis are both 1923-vintage properties in materially inferior condition — an apples-to-oranges comparison at best. This discount is not a reflection of deferred maintenance or physical obsolescence. It is a direct function of below-market rents held by long-term tenants — and that is precisely the opportunity a value-add buyer is acquiring here.

Under AB 1482, the current allowable annual increase is 8% (5% plus 3% CPI) through July 2026, enabling meaningful and immediate progress toward market on existing tenancies. Second, and more significantly, vacancy decontrol is fully preserved under AB 1482 — every unit that turns can be re-leased at full market rate with no ceiling.