RealKey
‪(213) 433-7766‬

238 W 10th, San Pedro, California 90731, San Pedro, 90731 - bed, bath

238 W 10th, San Pedro, California 90731 home-pic-0
ACTIVE$2,399,999
238 W 10th, San Pedro, California 90731
0Bed
0Bath
5,304Sqft
5,005Lot
Year Built
1923
Close
-
List price
$2.4M
Original List price
$2.4M
Price/Sqft
$452
HOA
-
Days on market
-
Sold On
-
MLS number
RS25270178
Home ConditionExcellent
Features
Good View:
View-

About this home

We found 3 Cons,6 Pros.

THE ROYAL HOTEL San Pedro, CA | 20 Units | $120,000/Door | 5.28% Cap | 10 GRM Rare opportunity to acquire a renovated hotel just blocks from the $150M+ West Harbor waterfront development. This 42-acre destination features 150,000+ SF of dining and entertainment, a 6,200-seat amphitheater, California's tallest Ferris wheel, and a mile-long promenade—transforming San Pedro into a premier coastal destination. The Royal Hotel offers 20 bachelor units across two floors with communal restrooms, on-site laundry, and a 1BR/1BA manager's unit with full kitchen. Each room includes vinyl flooring, bed, mini-fridge, flat-screen TV, sink, DirecTV, and WiFi. The property is ideal for students, traveling professionals, and extended-stay guests seeking an affordable coastal location Prime Walkable Location: Steps from downtown San Pedro and the Metro Silver Line connecting to DTLA. Walk to Battleship USS Iowa, LA Maritime Museum, the Warner Grand Theatre, First Thursday Art Walk, and the new West Harbor waterfront. Free Downtown Trolley and Commuter Express 142 to Long Beach/Metro A Line nearby. Recent Upgrades: Complete electrical system with new main panel, PEX and copper plumbing throughout, new flat roof (2023), and new rear metal staircase (2023). Investment Metrics: $120,000/door | 5.28% Cap Rate | 10 GRM | Proforma: 6.2% Cap & 7.3 GRM Flexible Use Potential: The building's layout is well-suited for alternative uses including non-profit supportive housing, transitional housing, Multifamily, sober living facility, or ground-up redevelopment to capitalize on San Pedro's growth. Why This Deal Works: Yes, it's an SRO under LA RSO—but at $120K/door with a 5.28% cap in a coastal market, this is exceptional value. Comparable beach-adjacent properties trade at 2-3x the price. The recent infrastructure upgrades eliminate major capex concerns, SBA financing lowers the barrier to entry, and San Pedro's $150M+ waterfront transformation provides a clear path to appreciation. Smart investors recognize that rent-stabilized assets in prime locations offer stability, consistent cash flow, and long-term upside. Potential SBA FINANCING AVAILABLE — (buyer to Verify and Qualify) Don't miss your chance to own a turnkey operation in Southern California's last affordable beach city—positioned for appreciation as San Pedro's waterfront renaissance unfolds.

Nearby schools

5/10
Fifteenth Street Elementary School
Public,•K-5•0.4mi
3/10
Cabrillo Avenue Elementary School
Public,•K-5•0.7mi
2/10
Barton Hill Elementary School
Public,•K-6•0.8mi
5/10
Bandini Street Elementary School
Public,•K-6•1.2mi
5/10
Leland Street Elementary School
Public,•K-6•1.3mi
4/10
Seventh Street Elementary School
Public,•K-5•1.7mi
9/10
Park Western Place Elementary School
Public,•K-5•1.8mi
5/10
Crestwood Street Elementary School
Public,•K-6•2.0mi
7/10
White Point Elementary School
Public,•K-6•2.0mi
9/10
Taper Avenue Elementary School
Public,•K-5•2.1mi
7/10
South Shores/Csudh Visual And Performing Arts
Public,•K-5•2.5mi
4/10
Hawaiian Avenue Elementary School
Public,•K-5•2.8mi
8/10
Mira Catalina Elementary School
Public,•K-5•3.0mi
6/10
Eshelman Avenue Elementary School
Public,•K-5•4.1mi
6/10
Harbor City Elementary School
Public,•K-5•4.2mi
4/10
Richard Henry Dana Middle School
Public,•6-8•0.8mi
8/10
Miraleste Intermediate School
Public,•6-8•2.8mi
7/10
Rudecinda Sepulveda Dodson Middle School
Public,•6-8•2.8mi
6/10
Alexander Fleming Middle School
Public,•6-8•4.3mi
4/10
Hudson K-8
Public,•K-8•5.7mi
6/10
San Pedro Senior High School
Public,•9-12•1.0mi
5/10
Phineas Banning Senior High School
Public,•9-12•4.2mi
5/10
Nathaniel Narbonne Senior High School
Public,•9-12•5.0mi
3/10
Cabrillo High School
Public,•9-12•5.5mi
10/10
Palos Verdes Peninsula High School
Public,•9-12•6.1mi
8/10
Palos Verdes High School
Public,•9-12•8.5mi

Price History

Date
Event
Price
12/17/25
Listing
$2,399,999
08/09/17
Sold
$1,025,000
Condition Rating
Excellent
Despite being built in 1923, this property has undergone extensive and very recent renovations, with major systems like electrical, plumbing (PEX and copper), and the roof all updated in 2023. The interior images show modern vinyl plank flooring, fresh paint, and communal bathrooms that are fully renovated with contemporary tiling, glass shower doors, and new fixtures, appearing virtually new. The individual units are clean and functional with new mini-fridges and sinks. This level of recent, comprehensive renovation brings the property's condition to an excellent standard, meeting current quality expectations with no deferred maintenance.
Pros & Cons

Pros

Great Schools: Elementary School: Taper Avenue Elementary School (9/10). High School: Palos Verdes Peninsula High School (10/10).
Major Area Redevelopment: Located blocks from the $150M+ West Harbor waterfront development, positioning the property for significant appreciation and increased demand as San Pedro transforms into a premier coastal destination.
Prime Walkable & Transit-Oriented Location: Exceptional walkability to downtown San Pedro attractions, including the USS Iowa and Warner Grand Theatre, and direct access to the Metro Silver Line, enhancing tenant appeal and convenience.
Extensive Recent Capital Improvements: Major systems like electrical, plumbing (PEX/copper), and roofing were recently upgraded (2023), significantly reducing immediate capital expenditure concerns for a new owner.
Favorable Investment Value: Offered at an attractive $120,000/door with a 5.28% cap rate (proforma 6.2%), presenting strong value in a coastal market compared to similar properties trading at 2-3x the price.
Versatile Use Potential: The property's layout and location lend themselves to flexible alternative uses, including supportive housing, transitional housing, multifamily conversion, or ground-up redevelopment, offering future adaptability.

Cons

Rent Stabilization Ordinance (RSO) Constraints: As an SRO under LA RSO, the property is subject to rent control and tenant protections, potentially limiting rental income growth and operational flexibility.
Communal Restroom Configuration: The 20 bachelor units utilize communal restrooms, which may be a deterrent for some potential tenants seeking private facilities and could impact marketability or achievable rental rates.
Historic Building Age: While recently upgraded, the 1923 construction date means the underlying structure is over 100 years old, potentially leading to unique maintenance challenges or higher operational costs over time.

Best solution for experienced home buyers!

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

Browse Properties by State Browse housing market trends by state