2404 S Carolina Street
San Pedro, CA, 90731
$1,275,000
Original list price: $1,300,000
MLS: 26870919
Beds
8
Baths
4
Sq Ft
3,672
Lot
0.14 ac
Year Built
1957
MLS #
26870919
Days on Market
72
Listed
Aug 11, 2026
Description
$25K Price Reduction! 6.38% Cap Rate Perfect 1st Time Buyer Purchase Opportunity! We are pleased to present the exclusive offering of 2404 S Carolina St, a well-maintained coastal multifamily investment located in the desirable San Pedro submarket. This exceptional asset represents an attractive opportunity to acquire a 4-unit apartment community in one of Southern California's established coastal rental markets. Originally constructed in 1957, the property consists of approximately 3,672 rentable square feet situated on a 6,092 square foot lot. Residents enjoy ocean views from the property, further enhancing its desirability and tenant appeal. Ideally situated in the Point Fermin neighborhood, the property is near the San Pedro waterfront, Cabrillo Beach, Point Fermin, West Harbor, and a variety of restaurants, retail, and entertainment destinations, offering residents a desirable coastal lifestyle with convenient access to the broader South Bay and Los Angeles markets. Additional amenities include in-unit washers and dryers, four covered parking spaces, and a shared outdoor patio. The property has also benefited from significant recent capital improvements, including a completely repaired foundation, new PEX plumbing throughout the building, five new electrical panels, new exterior paint, and extended gutters. Both upstairs units have been fully renovated, providing a strong foundation for continued property performance. The property is currently operating at a 6.23% capitalization rate and an 11.63 GRM, offering investors an attractive combination of current cash flow and future upside. Additional value-add potential can be realized through renovations to the downstairs units and strategic rent increases, allowing a new owner to enhance rental income and overall property performance. Potential ADU development may provide additional upside, subject to applicable zoning and permitting requirements. Buyer to verify all ADU development potential, requirements, and feasibility. 2404 S Carolina St provides investors with an opportunity to acquire a well-maintained coastal multifamily asset at an attractive basis, with a combination of current income, recent capital improvements, and future value-add potential. The property's desirable San Pedro location, ocean views, parking, in-unit laundry, and proximity to ongoing waterfront revitalization position it as an attractive investment opportunity with potential for long-term income growth and appreciation.
Location
San Pedro, Los Angeles County, CA 90731
Open on Google Maps ↗Listed by: John Katnik · BRC Advisors- BH
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$9,989
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $127,500 · Loan: $1,147,500
Average 30-yr fixed rate 7.32% as of Oct 22, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $7,883
- Property tax (1.25%)
- $1,328
- Homeowners insurance
- $300
- Mortgage insurance
- $478
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Oct 22, 2026
- 30-year fixed
- 7.32%
- 15-year fixed
- 6.68%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this San Pedro home with as little as 3.5% down using an FHA loan — roughly $44,625 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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Local Market Stats
See San Pedro, CA 90731 market trends →
Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
★#1 Producing Individual Realtor, Antelope Valley
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