629 W 8th W

Five doors, one exceptional location — 629–633 W 8th Street delivers what today's investors are searching for: immediate stability with a clear path to more. Each unit is a private 1-bed/1-bath apartment with its own separate utility meter, making day-to-day management simple. An on-site garage adds bonus income, currently rented as storage. Here's the math: a 5.50% cap rate in place today, climbing to a 7.42% pro-forma as below-market units turn over — a path backed by California's Costa-Hawkins vacancy decontrol. But the numbers only tell half the story. This property sits minutes from Long Beach's booming Space & Defense corridor, and walking distance to the San Pedro waterfront revitalization, the LA Cruise Hub, and the new West Harbor development. With the 2028 LA Olympics on the horizon, this corridor is one of San Pedro's fastest-changing pockets — and this is a rare chance to own five units right in the middle of it, now at a new price. The fundamentals haven't changed. The opportunity has never been better.