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Listed by Olga Wright • Lyon Stahl Investment Real Estate, Inc.
$ 2,050,000
Est. payment | /mo
6,590 SqFt
$ 2,050,000
Est. payment | /mo
6,590 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,590 sqft
Price per Sqft $311
MLS Listing ID CRSB25175372
HOA Y/N No
Year Built 1985
Lot Size 6,250 Sqft
Property Sub-Type Other
Source Datashare California Regional
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
Interior
Fireplace No
Laundry Common Area
Building
Lot Description Other
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Adam Shoop
Broker Associate at LPT Realty | Lic# 1782227