238 W 10th San Pedro, CA 90731
UPDATED:
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID RS25270178
HOA Y/N No
Year Built 1923
Property Sub-Type Mixed Use
Property Description
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, Multifamily, 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.
Location
State CA
County Los Angeles
Area 185 - Plaza
Interior
Interior Features Multiple Staircases
Heating See Remarks
Cooling Wall/Window Unit(s)
Flooring Vinyl
Fireplaces Type None
Fireplace No
Laundry Laundry Room
Exterior
Parking Features None, On Street
Pool None
Community Features Sidewalks
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Roof Type Flat
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7455024017
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
