$9000000 Price Analysis   ♡   Redondo Beach, CA 90277 20 bed 16 bath 10868 SqFt ($828/SqFt) 0.33 acre lot. Built 1957 Listed 2024-06-11, Taxes $61347 | Ⓧ USDA Ineligible due to price & location near Redondo Beach |
We are proud to present a 16-unit apartment opportunity in the highly desirable Redondo Beach!
Offered for sale for the 1st time in almost 20 years, this property offers a unique opportunity to acquire a larger asset a block away from the beach. There is a ton of future potential with this property as it is in one of the best locations in all of the South Bay. Sitting on an oversized corner lot, the offering features a total of 16 apartment units. The unit mix is comprised of 12 one-bedroom/one-bathroom units and 4 two-bedroom one-bathroom units. The asset has been extremely well maintained and is the epitome of a pride of ownership property.
With current rental rates below market value, there is significant potential for value add through stratgic renovations and future rent increases. The property is currently operating at a 3.09% cap rate and a proforma caprate of 4.84%. Adding to the property's allure is the presence of 14 covered carport parking and 2 garage spaces, which could provide an additional revenue stream if converted into ADUs (Buyer to confirm). Tenants can also enjoy a pretty swimming pool and on-site laundry, allowing a new owner to maximize future rents. The property is less than a mile from the popular Riviera Villag e, which features the best restaurants and retail in Redondo Beach. This investment presents a attractive opportunity to own a sizable asset in the highly desirable city Redondo Beach.
Presented by John Katnik at
BRC Advisors- BH.
Property MLS #24-397985 from TheMLSCLAW
Full Bathrooms: 16
Laundry Features: Community, Laundry Area
Garage Spaces: 2
Garage Description: Garage, Carport Detached, Carport Attached
Parking Total: 16
Lot Size Dimensions: 95x150
Lot Size Source: Assessor
Lot Size Square Feet: 14281
Calculated Total Monthly Association Fees: 0
Number of Units: 16
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 37200, 2 BedsTotal: 2, 2 BathsTotal: 1, 2 SquareFeet: 15200
Source Listing Status: Active
County: Los Angeles
Cap Rate: 3.09
Directions: Northeast corner of Catalina and Topaz
Source Property Type: Residential Income
Area: S. Redondo Beach South of PCH
Source Neighborhood: S. Redondo Beach South of PCH
Owner Pays: Gardener, Pool Service, Water
Parcel Number: 7508-009-033
Zoning: RBR-3A
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $410311 + $4734430 $5144741 | $61347 |
| 2021 | $402266 + $4641599 $5043865 | $60557 |
| 2020 | $398142 + $4594006 $4992148 | $60641 |
| 2019 | $390336 + $4503928 $4894264 | $59432 |
| 2018 | $382683 + $4415616 $4798299 | $57968 |
| 2017 | $375180 + $4329036 $4704216 | $57034 |
| 2016 | $367824 + $4244153 $4611977 | $56114 |
| 2015 | $362299 + $4180402 $4542701 | $55114 |
| 2014 | $355203 + $4098514 $4453717 | $54454 |
| 2013 | $289800 + $2846200 $3136000 | $39253 |
| 2012 | $273500 + $2686500 $2960000 | $36685 |
| 2010 | $338000 + $3320000 $3658000 | $43451 |
| 2009 | $338130 + $3901500 $4239630 | $48988 |
| 2009 | $338000 + $3320000 $3658000 | $48988 |
| 2008 | $331500 + $3825000 $4156500 | $47753 |
| 2007 | $920289 + $974873 $1895162 | $22953 |
$9000000
TheMLSCLAW
Listing removed 2024-07-17
$0
TheMLSCLAW
Relisted 2024-07-08
$9000000
TheMLSCLAW
Listing removed 2024-07-04
$0
TheMLSCLAW
Listed 2024-06-11
$9000000
TheMLSCLAW
Listing removed 2015-07-24
$7500000
CRMLS
Listed 2014-11-21
$7500000
CRMLS
Listing removed 2014-04-29
$1700
WestsideRentals
Listed for rent 2014-03-18
$1700
WestsideRentals
Listing removed 2014-02-19
$1700
WestsideRentals
Listing removed 2014-02-19
$2100
WestsideRentals
Listed for rent 2014-02-04
$1700
WestsideRentals
Listed for rent 2013-12-31
$2100
WestsideRentals
Sold 2007-05-31
$4075000
Public Record
Year Built: 1957
Building Exterior Type: Stucco, Vertical Siding
Common Walls: Attached
Direction Faces: South, West
Levels: Two Level
Living Area Source: Assessor
Property Age: 67
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Assessor
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.