526 W 40th San Pedro, CA 90731
6,102 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26211391
Construction Status Turnkey
HOA Y/N No
Year Built 2005
Lot Size 6,102 Sqft
Property Sub-Type Single Family Residence
Property Description
Rare opportunity to own a fully permitted three-unit residential income property in desirable Point Fermin, San Pedro, just blocks from the Pacific. This coastal compound offers strong income potential, flexible living arrangements, abundant parking, and an upgraded primary residence on a private 6,101-square-foot lot. Projected gross rental income is $120,000 annually, offering an opportunity for investors, owner-users, multigenerational buyers, or anyone seeking to offset housing costs with rental income. The primary residence is a beautifully appointed Swiss Craftsman with an open floor plan, rich maple hardwood floors, an elegant living room with a gas fireplace, a formal dining area, and a chef's kitchen with custom soft-close cabinetry, quartz countertops, a bespoke island, and stainless-steel appliances. The spacious great room opens through a charming Dutch door to the private backyard. The luxurious primary suite features a private balcony, fireplace, oversized custom walk-in closet, and a spa-inspired bathroom with a clawfoot tub, walk-in shower, and chandelier. A dedicated laundry room with a washbasin adds convenience. The detached two-story structure provides two additional permitted residential units. The approximately 500-square-foot upper studio has a full bath and is currently rented for $1,850/month. The lower unit offers additional permitted living space for rental income or personal use. The configuration provides multiple revenue streams and flexibility to occupy one unit while renting the others, lease all three, or accommodate extended and multigenerational living. Buyer to independently verify rents, expenses, permits, square footage, and income projections. Parking includes a detached two-car garage, deep driveway, alley access, and additional space suitable for a boat or RV—a significant advantage in coastal San Pedro. The private backyard features mature landscaping, lush ivy-covered walls, built-in seating, and a gas BBQ. Located near Cabrillo Beach, Point Fermin Park, the Korean Friendship Bell, coastal trails, restaurants, shopping, and the Pacific, this is an uncommon opportunity to acquire a permitted three-unit residential income property in a coveted coastal neighborhood.
Location
State CA
County Los Angeles
Area 181 - Point Fermin
Rooms
Other Rooms Guest House Detached
Interior
Interior Features Balcony, Ceiling Fan(s), Pantry, Quartz Counters, Storage, Bedroom on Main Level, Dressing Area, Walk-In Closet(s)
Heating Central, Fireplace(s)
Cooling Central Air
Flooring Wood
Fireplaces Type Gas Starter, Living Room, Primary Bedroom
Fireplace Yes
Appliance Dishwasher, Gas Oven, Gas Water Heater, Microwave, Refrigerator
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Exterior Feature Lighting, Rain Gutters
Parking Features Boat, Door-Multi, Driveway, Garage, Garage Door Opener, Guest, Off Site, Oversized, Paved, RV Access/Parking, Garage Faces Side
Garage Spaces 2.0
Garage Description 2.0
Fence Good Condition
Pool None
Community Features Curbs, Street Lights, Suburban, Sidewalks
Utilities Available Electricity Connected, Sewer Connected
Waterfront Description Beach Access
View Y/N Yes
View Neighborhood, Peek-A-Boo
Roof Type Shingle
Accessibility Parking
Total Parking Spaces 2
Private Pool No
Building
Lot Description 0-1 Unit/Acre, Front Yard, Sprinklers In Rear, Sprinklers In Front, Lawn, Sprinkler System
Story 2
Entry Level Two
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Architectural Style Craftsman
Level or Stories Two
Additional Building Guest House Detached
New Construction No
Construction Status Turnkey
Others
Senior Community No
Tax ID 7467022015
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Energy Description 720.0
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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