526 W 40th
San Pedro, CA 90731
Listing broker / agent: Thompson Team Real Estate, Inc. · Keely McKeighan · 310-883-3275 · CRMLS
MLS # SB26211391 · Last checked Oct 21, 2026 03:04 UTC
About this property
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.
Property details
- MLS number
- SB26211391
- Status
- Active
- Type
- Residential Income
- Subtype
- Single Family Residence
- Lot size
- 0.1401 acres
- County
- Los Angeles
- Year built
- 2005
- Stories
- 2
More property detailsCollapse
Listing
- Days on market
- 22
Building
- Year built
- 2005
- Year built source
- Public Records
- Architectural style
- Craftsman
- Stories
- 2
- Building stories
- 2
- Levels
- Two
- Entry level
- 1
- Construction
- Brick, Copper Plumbing
- Roof
- Shingle
- Foundation
- Brick Mortar
- Condition
- Turnkey
Rooms & interior
- Rooms
- Bonus Room, Bedroom, Den, Game Room, Guest Quarters, Kitchen, Laundry, Living Room, Primary Bathroom, Primary Bedroom, Office, Other
- Appliances
- Dishwasher, Gas Oven, Gas Water Heater, Microwave, Refrigerator
- Interior features
- Balcony, Ceiling Fans, Pantry, Quartz Counters, Storage, Bedroom On Main Level, Dressing Area, Walk In Closets
- Flooring
- Wood
- Heating
- Central, Fireplaces
- Cooling
- Central Air
- Fireplace
- Gas Starter, Living Room, Primary Bedroom
- Laundry
- Electric Dryer Hookup, Gas Dryer Hookup
- Accessibility features
- Parking
Exterior & parking
- Total parking spaces
- 2
- Garage spaces
- 2
- Parking
- Boat, Door Multi, Driveway, Garage, Garage Door Opener, Guest, Off Site, Oversized, Paved, Rv Access Parking, Garage Faces Side
- Pool
- None
- Spa
- None
- Exterior features
- Lighting, Rain Gutters
- Lot features
- Zero To One Unit Acre, Front Yard, Sprinklers In Rear, Sprinklers In Front, Lawn, Sprinkler System
- Lot size source
- Public Records
- Fencing
- Good Condition
- Property outlook
- Neighborhood, Peek A Boo
Utilities & community
- Water
- Public
- Sewer
- Public Sewer
- Utilities
- Electricity Connected, Sewer Connected
- Community features
- Curbs, Street Lights, Suburban, Sidewalks
Fees & lease terms
- Association
- No
- Association fee
- $0.00
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Point Fermin Elementary (school website, opens in a new tab) Los Angeles Unified · San Pedro | K–5 | 0.4 mi |
| Angel's Gate (Continuation) (school website, opens in a new tab) Los Angeles Unified · San Pedro | 9–12 | 0.6 mi |
| White Point Elementary (school website, opens in a new tab) Los Angeles Unified · San Pedro | K–5 | 1.3 mi |
| Leland Street Elementary (school website, opens in a new tab) Los Angeles Unified · San Pedro | K–5 | 1.3 mi |
| Fifteenth Street Elementary (school website, opens in a new tab) Los Angeles Unified · San Pedro | K–5 | 1.5 mi |
| Richard Henry Dana Middle (school website, opens in a new tab) Los Angeles Unified · San Pedro | 6–8 | 1.6 mi |
| San Pedro Senior High (school website, opens in a new tab) Los Angeles Unified · San Pedro | 9–12 | 1.6 mi |
| Cabrillo Avenue Elementary (school website, opens in a new tab) Los Angeles Unified · San Pedro | K–5 | 2.1 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $1,899,000
- MLS-reported original asking price
- $1,899,000
| Observed (UTC) | Asking price |
|---|---|
| Oct 2, 2026 06:03 | $1,899,000 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
Tax history is not available from the imported listing data.
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in San Pedro
Active residential homes for sale in San Pedro, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
18 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-21 04:08 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
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Illustration only—not a rate quote, preapproval, lending offer or affordability determination. Assumes equal monthly payments on a fully amortizing fixed-rate loan; no adjustable rates, interest-only periods or balloon payments. Excludes closing costs, utilities, maintenance, special assessments and other unentered costs. Actual payments and escrow can differ. Review a Loan Estimate with your lender.
Understanding homeownership costs — CFPB ↗