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    Courtyard Apartment Building with Garages Title is generated by Realmo AI

    1047 W 7th, San Pedro, CA 90731

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    For Sale
    $1,499,900

    Commercial Sale - San Pedro, CA

    Property size:
    5,008 SF
    Price / SF:
    $299/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 7:06 am

    Property Features for 1047 W 7th

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    LARD 1.5
    Interior features
    Living Quarters
    Standard status
    Active
    APN
    7458002024
    Size
    5,008 SF

    Utilities

    Cooling system
    None (Cooling)

    Building Details

    Year built
    1930
    Architectural style
    Other

    We can help!

    Listing Contact
    Angie Weeks
    Angie Weeks

    Listing agent Angie Weeks License #01398537

    Listing office First Team Real Estate 4040 Barranca Pkwy #100, Newport Beach, CA

    Listing date Jun 4, 2026

    MLS# OC26119959 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 8‑unit multifamily property with courtyard‑style freestanding unit layout and individual unit entrances
    • Includes 8 private single‑car garages and 8 electric meters
    • Unit mix includes studios, 1‑bedroom, and 2‑bedroom floor plans
    • Several units updated with laminate flooring, modernized bathrooms, and refreshed interior finishes
    • Two vacant units available for immediate lease‑up
    • Cooling: none (cooling)

    Overview

    This 8-unit apartment building offers a bungalow-style courtyard configuration with individual unit entrances. The property includes eight private single-car garages and eight electric meters, which can support straightforward, separate utility arrangements. Unit mix includes studios, one-bedroom, and two-bedroom floor plans. Several units have been updated with laminate flooring, modernized bathrooms, and refreshed interior finishes, while the exterior is described as well-maintained.

    Located in San Pedro, the property is presented as being near Downtown San Pedro, the Port of Los Angeles, and Cabrillo Marina. The remarks also point to the West Harbor waterfront redevelopment and related destinations along the harbor, with convenient access discussed to attractions such as the Battleship USS Iowa Museum and Cabrillo Beach, plus major transportation corridors connecting toward Long Beach, the South Bay, and Downtown Los Angeles. Zoning is listed as LARD 1.5.

    For investors or owner-operators seeking a residential income asset with on-site garage parking, this configuration can appeal to tenants looking for dedicated parking and a courtyard setting. The listing notes two vacant units currently available for immediate lease-up, with an opportunity to further tailor interiors through additional renovation and market-rate leasing. The mix of studio through two-bedroom layouts may support flexible tenant targeting across household types.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Pedro
    County
    Los Angeles
    State
    California
    Longitude
    -118.26206
    Latitude
    34.050262

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    FAQs

    What type of property is this?
    Apartment building - Eight-unit multifamily featuring a courtyard layout with private single-car garages and individual unit entrances.
    Where is this apartment building located?
    The property is located at 1047 W 7th San Pedro, CA.
    What is the asking price?
    The asking price for this property is $1,499,900.
    What are key features of this property?
    This property features: 8‑unit multifamily property with courtyard‑style freestanding unit layout and individual unit entrances; Includes 8 private single‑car garages and 8 electric meters; Unit mix includes studios, 1‑bedroom, and 2‑bedroom floor plans
    (949) 338-7408
    We can help!
    Listing Contact
    Angie Weeks
    Angie Weeks
    Real Estate License ID: 01398537
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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