Opportunities like this are becoming increasingly rare. Located in the heart of the highly sought-after POINT FERMIN neighborhood, 714 W. 38th Street offers the unique combination of an EXISTING UPDATED RESIDENCE, a 6,500 SF R2-ZONED LOT, OCEAN VIEWS, refreshing COASTAL BREEZES, and exceptional REDEVELOPMENT POTENTIAL in one of Southern California's most desirable seaside communities. From the moment you arrive, you'll appreciate the OCEAN VIEWS from the front of the property and the cool COASTAL BREEZES that define the Point Fermin lifestyle. The expansive rear portion of the lot also enjoys OCEAN VIEWS, creating an exceptional opportunity to thoughtfully design future improvements that further enhance VIEW CORRIDORS and maximize the property's remarkable COASTAL SETTING (Buyer to verify all development possibilities with the City of Los Angeles.) Unlike a VACANT LAND ACQUISITION, the existing residence provides immediate flexibility as a PRIMARY RESIDENCE, RENTAL PROPERTY, or HOLDING ASSET while redevelopment plans are explored. Whether your vision is to create LUXURY COASTAL RESIDENCES, a MULTIGENERATIONAL FAMILY COMPOUND, or a LONG-TERM INVESTMENT, the generous lot size, favorable R2 ZONING, and existing improvements provide multiple pathways to LASTING VALUE. Ideally situated just moments from POINT FERMIN PARK, CABRILLO BEACH, ROYAL PALMS BEACH, CABRILLO MARINA, the KOREAN FRIENDSHIP BELL, and the transformative WEST HARBOR WATERFRONT REDEVELOPMENT, the property is positioned to benefit from billions of dollars in public and private investment that continue to reshape SAN PEDRO into one of Southern California's premier coastal destinations. Whether you're a DEVELOPER, INVESTOR, BUILDER, or OWNER-USER with a long-term vision, this is more than the purchase of a home; it's the opportunity to secure an irreplaceable COASTAL PROPERTY in one of Los Angeles' most SUPPLY-CONSTRAINED WATERFRONT NEIGHBORHOODS. Please note: The enclosed patio/sunroom is currently being utilized as a 2nd bedroom. Please refer to the attached Offering Memorandum supplement for additional property information, including a link to city documents.