238 W 10th

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, 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.