San Pedro Land | Two Vacant Lots

Highlights:

• Two by-right pathways: an SB 1123 for-sale subdivision of 10 homes, or an income build of duplexes plus ADUs
• Two parcels, buy together or split, totaling about 13,799 SF
• Qualified Opportunity Zone with TOC Tier 2, AB 2097, and AB 2334 incentives
• Minutes from the 42-acre West Harbor waterfront destination opening in 2026

Description:

The LAAA Team of Marcus & Millichap is pleased to present 631-637 W 6th Street, a raw-land assemblage of two contiguous C2 parcels in Central San Pedro, priced as land at $125 per SF. The site carries two clean, by-right development pathways with no discretionary entitlement: an SB 1123 ministerial subdivision of 10 fee-simple for-sale homes, or an income build of double-duplexes plus ADUs. It sits within a Qualified Opportunity Zone, minutes from the 42-acre West Harbor waterfront opening in 2026.

• Two By-Right Pathways: An SB 1123 for-sale subdivision of 10 fee-simple homes, or an income build of double-duplexes plus ADUs. Neither requires a zone change, CUP, public hearing, or CEQA review.

• Buy Together or Split: 631 W 6th (about 8,798 SF) and 637 W 6th (about 5,001 SF) are separately conveyable, so a buyer can acquire the assemblage or either parcel individually.

• Stacked Incentive Profile: Qualified Opportunity Zone, TOC Tier 2, AB 2097 (no parking minimums), and AB 2334 (very low VMT) all lift feasibility on both development programs.

• Revitalizing Waterfront: Minutes from the 42-acre West Harbor destination, a 6,200-seat amphitheater and dining district activating toward a 2026 grand opening.

• Both Pathways Pencil: The income build clears roughly a 6.5% stabilized yield on cost, and the for-sale program returns about $2.17M of developer profit at a 29% margin.

• Clean Development Basis: Outside the Coastal Zone, outside the flood zone, no Rent Stabilization Ordinance, Housing Element designated, with ministerial approval.