726 W 37th St San Pedro, CA 90731

Looking for a luxury income property with significant value-add potential? This 3,070 SF ocean-view duplex, zoned R2 and per the LA City's ZIMAS system, the property is not subject to RSO. Buyer to independently verify. lt may be that rare unicorn that offers flexibility and tremendous MULTIPLE upsides. Currently configured as a five-bedroom, five-bath property, there is a possibility to add one bedroom to each unit within the EXISTING footprint and becoming potentially SEVEN bedrooms! The upstairs/owner's unit has two bedrooms, two baths, 10+ foot ceilings, skylights in almost every room, and offers a deck spanning across the front. It also has a large rooftop deck with panoramic ocean views, including Catalina on clear days and the Korean Friendship Bell. Spanning over 1,500 square feet, there is room to add a second primary bedroom with ocean views and a massive walk-in closet. This unit also features a gorgeous gourmet kitchen, a walk-in pantry that would be the envy of any home chef, a tankless water heater, air conditioning, soundproofing between units, and additional deck space in the back. The SECOND UNIT offers three bedrooms and two baths, is over 1,500 square feet and has potential to add a fourth bedroom in the large living area adjacent to the dining room. There is also a front lovely private patio area. Additionally, there is a large separate storage unit may be dedicated to either unit, creating an additional income. The property also features three washer/dryer hookups, one in each unit and one located in the garage. Flexible income opportunities extend beyond the units, including five off-street parking that may accommodate boats, RVs, or trailers, as well as potential rental use of garage and storage spaces. The "third unit" for additional income is the massive garage, a truly rare asset in this coastal market. This oversized space provides ample room for vehicles, a workshop, creative studio, or additional functional space, and includes a ¾ bathroom, washer/dryer hookups, a large storage room, office loft, and commercial-grade storage, with potential room for 5-10+ vehicles. There is truly no other property like this in all of San Pedro offering this combination of amenities, possibilities, and value-add potential. Ideally located near Point Fermin, Cabrillo Beach, the Hey Rookie Pool, local trails, this property offers a compelling blend of coastal lifestyle, flexibility, and upside.