ACTIVE UNDER CONTRACT$2,500,000

1120 S Leland Street, San Pedro, California 90731

0Bed

0Bath

7,481Sqft

6,242Lot

Year Built

1980

List price

$2.5M

Original List price

$3M

Price/Sqft

$334

HOA

Days on market

Sold On

MLS number

SB25129325

Home ConditionFair

Features

View-

About this home

We found 3 Cons,6 Pros.

NO LA CITY RENT CONTROL. PROPERTY HAS A 1980 CERTIFICATE OF OCCUPANCY. SUPER CLEAN 8-Unit Apartment Building in the Highly Desirable Vista Del Oro Neighborhood –BRAND NEW ELECTRICAL SERVICE HAS BEEN INSTALLED TO ALLOW COMPETITIVE INSURANCE RATES. Located in the sought-after Vista Del Oro neighborhood, this 8-unit apartment building offers a rare investment opportunity in one of San Pedro's most coveted areas. With its prime location just minutes from picturesque parks, schools, local dining, and shopping, this property benefits from a strong rental demand and a highly desirable community atmosphere. The building is not subject to LA City rent control, providing the new owner with increased flexibility in rent pricing and long-term growth potential. Vista Del Oro’s charming, residential vibe, combined with easy access to the coast and major freeways, makes it an ideal location for both tenants and investors seeking stability and upside. Whether you are expanding your portfolio or entering the multi-family market, this property offers a unique chance to own in a neighborhood that’s known for its character, convenience, and strong sense of community. Don’t miss the opportunity to acquire a well-positioned asset in this vibrant part of San Pedro.

Nearby schools

3/10

Cabrillo Avenue Elementary School

Public,•K-5•0.4mi

5/10

Leland Street Elementary School

Public,•K-6•0.6mi

4/10

Seventh Street Elementary School

Public,•K-5•0.7mi

5/10

Bandini Street Elementary School

Public,•K-6•0.9mi

5/10

Fifteenth Street Elementary School

Public,•K-5•0.9mi

2/10

Barton Hill Elementary School

Public,•K-6•1.1mi

5/10

Crestwood Street Elementary School

Public,•K-6•1.3mi

7/10

White Point Elementary School

Public,•K-6•1.3mi

9/10

Park Western Place Elementary School

Public,•K-5•1.3mi

7/10

South Shores/Csudh Visual And Performing Arts

Public,•K-5•1.5mi

9/10

Taper Avenue Elementary School

Public,•K-5•1.9mi

8/10

Mira Catalina Elementary School

Public,•K-5•2.0mi

4/10

Hawaiian Avenue Elementary School

Public,•K-5•3.2mi

6/10

Eshelman Avenue Elementary School

Public,•K-5•3.8mi

6/10

Harbor City Elementary School

Public,•K-5•4.1mi

4/10

Richard Henry Dana Middle School

Public,•6-8•0.4mi

8/10

Miraleste Intermediate School

Public,•6-8•1.9mi

7/10

Rudecinda Sepulveda Dodson Middle School

Public,•6-8•2.3mi

6/10

Alexander Fleming Middle School

Public,•6-8•4.1mi

4/10

Hudson K-8

Public,•K-8•6.5mi

6/10

San Pedro Senior High School

Public,•9-12•0.3mi

5/10

Phineas Banning Senior High School

Public,•9-12•4.7mi

5/10

Nathaniel Narbonne Senior High School

Public,•9-12•4.9mi

10/10

Palos Verdes Peninsula High School

Public,•9-12•5.3mi

3/10

Cabrillo High School

Public,•9-12•6.4mi

8/10

Palos Verdes High School

Public,•9-12•7.6mi

Price History

Date

Event

Price

10/22/25

Price Change

$2,500,000+1.7%

08/22/25

Price Change

$2,459,000-8.9%

08/03/25

$2,700,000

06/17/25

$3,000,000

Condition Rating

Fair

The property is an 8-unit apartment building constructed in 1980, making it 44 years old. While the listing highlights a 'BRAND NEW ELECTRICAL SERVICE' for the building, which is a significant upgrade to a major system, there is no information or imagery provided for the individual unit interiors, specifically kitchens and bathrooms. The description itself notes a 'Potential for Dated Interiors/Systems' and suggests that 'individual unit interiors may be original or dated.' The exterior image shows a well-maintained building for its age, but the architectural style and balcony railings are consistent with its 1980 build. Without evidence of recent, extensive renovations to the living spaces, and considering the age of the property, it likely requires minor updates to the unit interiors to meet current standards, aligning with a 'fair' condition.

Pros & Cons

Pros

Great Schools: Elementary School: Taper Avenue Elementary School (9/10). High School: Palos Verdes Peninsula High School (10/10).

No LA City Rent Control: The property is explicitly stated to be exempt from LA City rent control, offering the new owner significant flexibility in rent pricing and maximizing long-term growth potential.

Prime Vista Del Oro Location: Located in a highly desirable and sought-after neighborhood known for its charming residential vibe, strong rental demand, and convenient access to parks, schools, dining, shopping, the coast, and major freeways.

Multi-Unit Investment Opportunity: An 8-unit apartment building provides a substantial investment opportunity with multiple income streams, ideal for expanding a portfolio or entering the multi-family market.

Recent Electrical Upgrade: A brand new electrical service has been installed, which allows for competitive insurance rates and reduces immediate capital expenditure for the new owner.

Strong Community & Amenities: The neighborhood is highlighted for its character, convenience, and strong sense of community, which is attractive to potential tenants and contributes to stable occupancy.

Cons

Potential for Dated Interiors/Systems: Built in 1980, and with only the electrical service explicitly mentioned as new, other major building systems (e.g., plumbing, HVAC, windows) and individual unit interiors may be original or dated, potentially requiring significant future capital expenditures for modernization.

Limited Outdoor Space: The building's square footage (7481 sqft) exceeds the lot size (6242 sqft), indicating a high lot coverage that likely results in minimal common outdoor areas for tenants, which could be a drawback for some renters.

Price Reduction History: The property experienced multiple price reductions from an original list price of $3,000,000 down to $2,459,000 before the current $2,500,000, which could suggest initial overpricing or market resistance, potentially impacting perceived value.

About this home

Nearby schools

Price History

Pros

Cons

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1120 S Leland Street, San Pedro, California 90731, San Pedro, 90731 - bed, bath

About this home

Nearby schools

Price History

Pros

Cons

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI