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Just reduced by $200,000! 640 West 7th Street is a terrific investment opportunity located in the booming market of San Pedro, with approximately 53% +/- rental upside! Located in an Opportunity Zone, this is the perfect investment for an exchange Buyer! The property has 16 units, with a unit mix of Four 2 Bedroom units, Ten 1 Bedroom units, and Two retail spaces on the ground floor. Units are all individually metered for gas and electricity, and they are spacious with nice balconies. There are two laundry rooms onsite, and there is plenty of secured parking available. The building has been owned by the same family for well over 30+ years, and has undergone several improvements throughout the current ownership. There is a large central courtyard, and the building is very secure with a security system. The roof was also recently re-sealed. The property has a newer water heater and the two bedroom units all have dishwashers as well. This investment is perfectly positioned in the heart of San Pedro. Just one street over from the downtown area, tenants will enjoy being within walking distance to countless restaurants, bars, and unique stores! It is also very close to San Pedro waterfront, which is currently being completely revamped and will be re-branded as the "West Harbor". This is the perfect opportunity for an astute investor to purchase a terrific long term asset in a growing market. MLS® ID: SB22151471 Listed: 7/10/22 Updated: 10/17/22 Interior Features Total Bedrooms: 0 Total Bathrooms: 0 Laundry Description: Common Area Exterior/Building Features Lot Size: 8,960 ft2 lot Lot Details: Rectangular Lot Sewer: Public Sewer Other Property Details Area Name: 699 - Not Defined HOA Amenities: Street Lights Garage: Yes Garage Spaces: 16 Parking: Y Parking Total: 16.0 View: N County: Los Angeles Water Source: Public Pool: No Pool Description: None Zoning: LAC2 Property History Date Event Price Value 9/1/22 Pending - - 8/22/22 Price Change $3,400,000 -5% Courtesy of Keller Williams Beach Cities, Josh Cohen, Listing Contact: Based on information from California Regional Multiple Listing Service, Inc. as of 10/17/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.