Homes for sale - 2424 S Leland St, San Pedro, CA 90731

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sat

Nov

Sun

Nov

Mon

Nov

Tyler Coon

tyler@savvy.realty +1(828) 620-2541

$5,295,000

Est. payment - /mo

29 Beds

21 Baths

18,084 SqFt

Save

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 18,084 sqft

Price per Sqft $292

MLS Listing ID 25612551

Bedrooms 29

Year Built 1980

Lot Size 0.307 Acres

Acres 0.3066

Property Sub-Type Multi-Family

Property Description

2424 S. Leland Street is a 21-unit multifamily asset that exemplifies bothstability and upside potential in today's dynamic market. Built in 1980 and governed solely by California's statewide rent control law (AB 1482), this property delivers robust in-place cash flow, underscored by a compelling 6.40% capitalization rate and a 9.52 gross rent multiplier metrics that position it as a standout value among comparable offerings. The building features a well-balanced unit mix of six spacious two-bedroom apartments and fifteen thoughtfully designed one-bedroom residences. Each unit is bathed in natural light and benefits from refreshing ocean breezes, creating an inviting living environment that enhances tenant satisfaction and retention. Recent capital improvements totaling over $150,000 have further elevated the property's appeal and structural integrity. Notable upgrades include abrand-new roof that ensures long-term durability, and a beautifully renovated patio a tranquil, tastefully updated outdoor retreat that adds a layer of coastal charm to the residentexperience. Designed with tenant comfort and operational efficiency in mind, the property includesone laundry room on each floor, elevator access, and private balconies that enrich the livabilityof every unit. On-site offices offer flexible space for management or tenant services, contributing to a well-run and responsive residential environment. The building also boasts 34 secured parking spaces, including 14 tandem spots, and eight dedicated storage rooms located in the garage, five of which are currently leased, providing a reliable stream of additional ancillary income. Strategically located just minutes from Cabrillo Beach, the Marina, and the transformative West Harbor redevelopment, 2424 S. Leland Street sits within one of Los Angeles' most vibrant waterfront communities. Residents enjoy walkable access to a rich tapestry of local shops, restaurants, entertainment venues, and cultural attractions, all set against the backdrop of San Pedro's signature small-town charm and thriving arts scene. With strong existing rents and clear potential for future growth, this stabilized, income-producing asset represents an exceptional opportunity for investors seeking a high-performing property in a premier coastal location. Whether you are expanding your portfolio or entering the multifamily market, 2424 S. Leland Street offers the ideal blend of location, performance, and long-term value.

Location

State CA

County Los Angeles

Area Vista Del Oro

Zoning LARD2

Rooms

Other Rooms None

Interior

Heating Forced Air

Cooling Window Unit(s)

Equipment None

Laundry Community

Exterior

Parking Features Covered Parking, Gated, Gated Underground, Private Garage

Garage Spaces 34.0

Building

Story 3

Level or Stories Three Or More

Others

Special Listing Condition Standard

Read Less Info

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Keller Williams Realty

GET MORE INFORMATION

Tyler Coon

+1(828) 620-2541

Founder & CEO | License ID: 313885

Founder & CEO License ID: 313885

2424 S Leland St San Pedro, CA 90731

Tyler Coon

Key Details

Location

Rooms

Interior

Exterior

Building

Others

GET MORE INFORMATION

Go tour this home

2424 S Leland St