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Redondo Beach,CA 90277
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,352 sqft
Price per Sqft $527
MLS Listing ID 25539699
Bedrooms 4
Year Built 1906
Annual Tax Amount $28,688
Lot Size 7,608 Sqft
Acres 0.1747
Property Sub-Type Multi-Family
Property Description
This six-unit apartment building, located in the highly desirable South Redondo Beach (west of PCH and near the coast), presents a compelling investment opportunity. Offered at an attractive $382,500 per unit, the property boasts a solid 5.02% current cap rate and a 13.96 GRM. With three units to be delivered vacant, new ownership has an immediate opportunity for owner-occupancy or to renovate and achieve market rents, driving the pro-forma cap rate to an impressive 6.03%. The diverse unit mix, coupled with a substantial 7,608-SF lot and the absence of local rent control (defaulting to AB 1482), further enhance the value-add potential of this generational asset in a prime coastal location.
Location
State CA
County Los Angeles
Area S. Redondo Beach South Of Pch
Zoning RBR-3A
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Other
Equipment Other
Exterior
Parking Features Assigned, Garage, Uncovered
Garage Spaces 6.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard