San Pedro Multifamily Sales Hit $43.7 Million Last Year. Here's the Per Unit Math.

Published July 26, 2026

San Pedro apartment buildings traded $43.7 million across 201 units over the past year, averaging $217,369 a door and a 6.0% cap rate.

San Pedro's apartment market moved $43.7 million across 201 units over the past year, according to Blue Chip Investment Group's brokerage data. That works out to an average of $217,369 per unit, a 6.0% average cap rate, and buildings closing about 5% under their original asking price in roughly 5.2 months. If you own multifamily here, that per unit number is the fastest way to check where your building sits.

What the numbers actually say

Start with the top line. $43.7 million traded across 201 units is not a huge market by Los Angeles County standards, but it is a real one, and it is small enough that a handful of transactions can move the average meaningfully in either direction. Divide the dollars by the doors and you get $217,369 per unit, which is the number I would use as a rough sanity check against your own building's per door value before trusting any single comp too much.

The average cap rate for the period sits at 6.0%. That is the ratio buyers are underwriting to when they price a San Pedro apartment building today, and it tells you something useful even if you are not selling. A 6.0% average cap rate means the market is pricing multifamily income here at a fairly disciplined level, not chasing yield down to nothing and not demanding a steep discount either. If your building's net operating income divided by a realistic sale price lands meaningfully above or below 6.0%, that gap is worth understanding before you assume you know what your building is worth.

Then there is the deal mechanics piece, which owners tend to skip past and which is honestly more useful day to day. Buildings in this data closed within about 5% of their original asking price, and it took about 5.2 months on average to get there. Both of those numbers matter for the same reason. They tell you that sellers who price close to reality move their buildings in a reasonable window, and sellers who chase an aggressive number either sit longer or grind down closer to that 5% discount anyway. Overpricing here does not appear to buy much.

What this means for your building

None of this changes what your San Pedro property is worth on its own merits. What it gives you is a market against which to measure it.

If your building is a straightforward multifamily asset in San Pedro, run the simple version of the math yourself. Take your unit count, multiply by $217,369, and see how that compares to what you think the building would fetch. It will not be exact, unit mix, condition, and location inside San Pedro all move the number, but it is a fast reality check before you lean on a broker's number or your own gut.

The 6.0% cap rate matters even if selling is not on your mind this year. It is the yardstick current buyers are using, which means it is also roughly the yardstick a lender or an appraiser will reach for if you refinance. Knowing where your building's actual cap rate sits relative to that 6.0% average tells you whether the market currently sees your income stream as better than average, worse than average, or right in line.

And if you are weighing a sale, the 5.2 month timeline and the 5% asking discount are the two numbers worth planning around. A realistic asking price gets you closer to that 5% gap and that 5 month window. An aggressive one tends to cost you time without buying back much of the discount.

Common questions

Is $217,369 per unit a good price for a San Pedro apartment building?

It is the trailing average across the deals in this dataset, not a floor or a ceiling for any individual building. Unit mix, building age, parking, and exact location inside San Pedro all move a specific property above or below that number. Treat it as a starting reference point, not a valuation.

What does a 6.0% cap rate tell me if I am not selling?

It tells you how the market is currently pricing multifamily income in San Pedro, which is the same math a lender uses when sizing a refinance and the same math an appraiser reaches for. If you want to see how your specific building's income and expenses translate into a cap rate and a value, that is exactly the kind of modeling worth running before you make any financing or sale decision.

How reliable is a single brokerage's sales data for the whole city?

It is a useful directional read, not an audited market report. Brokerage transaction data reflects the deals that firm tracked or was involved in over the period, which is generally the trailing twelve months for a snapshot like this one. For a decision involving real money, a licensed professional pulling comparable sales specific to your property type and block is worth the conversation before you act on any citywide average.

Last verified: July 26, 2026. Sales volume, cap rate, and per unit figures reflect trailing twelve month brokerage data as reported and are subject to change as new transactions close. This is general information for property owners, not investment or legal advice. Confirm current market pricing and cap rate assumptions for your specific San Pedro property with a licensed professional before making a buy, sell, or refinance decision.

Kellie

Schofield Properties

323 Richmond Street, El Segundo, CA 90245

Topics: investing, san-pedro, south-bay, market-trends

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