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989 W 2nd Street, San Pedro, California 90731, San Pedro, 90731 - bed, bath

989 W 2nd Street, San Pedro, California 90731 home-pic-0
ACTIVE$2,985,000
989 W 2nd Street, San Pedro, California 90731
0Bed
0Bath
6,930Sqft
11,901Lot
Year Built
1959
Close
-
List price
$2.98M
Original List price
$3.58M
Price/Sqft
$431
HOA
-
Days on market
-
Sold On
-
MLS number
OC25136753
Home ConditionExcellent
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.98M(98th), sqft - 6930(98th), beds - undefined(50th), baths - undefined(50th).

PRICE IMPROVEMENT!! PORTFOLIO SALE--3 SIDE-BY-SIDE TRIPLEXES ON SEPARATE APNs: We are pleased to offer for sale this well-located property portfolio in the highly desirable Holy Trinity rental market of San Pedro. This asset consists of 3 Triplexes on 3 separate APNs--977, 983 and 989 2nd Street. There's also an excellent unit mix of ALL SINGLE STORY 2 bedroom units--6 of which have been completely renovated with new kitchens, bathrooms, and flooring! The exterior has also been renovated with new paint, and vinyl windows. There is also central A/C units and in unit washer and dryer hook-ups in each unit and garages for tenants to enjoy. The property is also individually metered for gas and electric along with individual water heaters for each unit which keeps operating expenses low for the owner. Actual in place rents are also very strong allowing a new owner to have great cash flow from day 1 without the need to significantly raise rents. Property also qualifies for 30 year fixed residential financing. Property is centrally located near 110 freeway, 710 freeway, Vincent Thomas Bridge as well as major shopping centers, international Cruise Ship Terminals, and the San Pedro Waterfront development. INVESTORS WELCOME!

Nearby schools

5/10
Bandini Street Elementary School
Public,•K-6•0.3mi
3/10
Cabrillo Avenue Elementary School
Public,•K-5•0.4mi
2/10
Barton Hill Elementary School
Public,•K-6•0.7mi
4/10
Seventh Street Elementary School
Public,•K-5•0.8mi
9/10
Park Western Place Elementary School
Public,•K-5•0.8mi
5/10
Crestwood Street Elementary School
Public,•K-6•0.9mi
5/10
Fifteenth Street Elementary School
Public,•K-5•1.1mi
5/10
Leland Street Elementary School
Public,•K-6•1.2mi
9/10
Taper Avenue Elementary School
Public,•K-5•1.4mi
7/10
White Point Elementary School
Public,•K-6•1.9mi
7/10
South Shores/Csudh Visual And Performing Arts
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•2.6mi
6/10
Eshelman Avenue Elementary School
Public,•K-5•3.3mi
6/10
Harbor City Elementary School
Public,•K-5•3.6mi
4/10
Richard Henry Dana Middle School
Public,•6-8•0.8mi
8/10
Miraleste Intermediate School
Public,•6-8•1.7mi
7/10
Rudecinda Sepulveda Dodson Middle School
Public,•6-8•1.9mi
6/10
Alexander Fleming Middle School
Public,•6-8•3.6mi
4/10
Hudson K-8
Public,•K-8•6.0mi
6/10
San Pedro Senior High School
Public,•9-12•0.8mi
5/10
Phineas Banning Senior High School
Public,•9-12•4.2mi
5/10
Nathaniel Narbonne Senior High School
Public,•9-12•4.3mi
10/10
Palos Verdes Peninsula High School
Public,•9-12•5.1mi
3/10
Cabrillo High School
Public,•9-12•5.9mi
8/10
Palos Verdes High School
Public,•9-12•7.5mi

Price History

Date
Event
Price
10/29/25
Price Change
$2,985,000-4.8%
10/10/25
Price Change
$3,135,000
06/18/25
Listing
$3,585,000
01/25/22
Sold
$795,000
01/11/22
Sold
$750,000
Condition Rating
Excellent
Despite being built in 1959, the property description explicitly states that '6 of which have been completely renovated with new kitchens, bathrooms, and flooring.' The provided images confirm this, showcasing a newly renovated kitchen with modern white shaker cabinets, contemporary countertops, stainless steel appliances, and new LVP flooring. The exterior also appears freshly painted with new vinyl windows. The presence of central A/C units and individual water heaters further indicates recent, high-quality upgrades, bringing the condition of the renovated units to an excellent standard, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

Investment Portfolio & Financing: This offering comprises three side-by-side triplexes on separate APNs, providing a diversified investment portfolio. It also qualifies for 30-year fixed residential financing, enhancing accessibility for investors.
Strong Cash Flow & Low Operating Costs: Actual in-place rents are robust, ensuring great cash flow from day one. Individual metering for gas, electric, and water heaters for each unit significantly reduces owner operating expenses.
Extensive Renovations: Six of the units have been completely renovated with new kitchens, bathrooms, and flooring. The exterior also features new paint and vinyl windows, minimizing immediate capital expenditure for a new owner.
Tenant-Centric Amenities: Each unit includes central A/C, in-unit washer and dryer hook-ups, and dedicated garages, offering desirable amenities that attract and retain quality tenants.
Prime Rental Market Location: Strategically located in the highly desirable Holy Trinity rental market of San Pedro, with excellent access to major freeways (110, 710), shopping centers, cruise terminals, and the San Pedro Waterfront development, ensuring strong tenant demand.

Cons

Age of Construction: Built in 1959, the underlying structures are over 60 years old. While units are renovated, older infrastructure may present unforeseen maintenance or upgrade requirements beyond cosmetic improvements.
Significant Price Reductions: The property has undergone multiple price reductions from its original list price of $3.585M to $2.985M, which could indicate initial overvaluation or market resistance, potentially affecting perceived value or future appreciation.
Management Complexity: Managing three separate triplexes on individual APNs, totaling nine units, may introduce increased administrative and maintenance complexities compared to a single, larger multi-unit property.

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