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$2,295,000
Est. payment /mo
4 Beds
5 Baths
4,352 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 4,352 sqft
Price per Sqft $527
MLS Listing ID 25539699
Bedrooms 4
HOA Y/N No
Year Built 1906
Lot Size 7,609 Sqft
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. The property is deemed historic (designated landmark). 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 157 - S Redondo Bch W Of Pch
Zoning RBR-3A
Interior
Fireplace No
Exterior
Parking Features Assigned, Garage, Uncovered
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7505007021
Special Listing Condition Standard
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Listed by Gianluca Jacoli Shield CRE, Inc.