526 W 40th

About this home

POINT FERMIN 3-UNIT RESIDENTIAL INCOME PROPERTY | $10,000/MONTH POTENTIAL 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.