$ 6,100,000
-
$6,100,000
Price -
24
Bed -
12
Bath -
12,192
SqFt
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About the Listing CLW-X82383 - CLW-C122805
Located in South Redondo Beach, west of PCH, this exceptional coastal investment offers a rare opportunity to purchase a 12-unit apartment just blocks from the Redondo Beach Pier, King Harbor, and the Pacific Ocean. The property consists of (12) 2-bedroom/1.75-bathroom units with spacious layouts, including four renovated units delivered vacant, allowing an investor to immediately capture market rents and drive income growth. The asset features strong in-place financials with a 4.35% current cap rate and 14.71 GRM, along with a projected 5.30% pro-forma cap rate and 12.79 GRM. This 11,364-SF asset is situated on a large 11,364-SF lot, which presents an attractive opportunity to add ADUs and further enhance returns. Additional highlights include 12 garages and an on-site laundry facility which is able to generate additional income. Furthermore, the property is not subject to Los Angeles rent control and instead falls under AB 1482. With its prime coastal location, desirable unit mix with spacious layouts, rent current income and upside potential, and long-term appreciation, this offering represents a true generational asset in one of the South Bay's most desirable rental markets.
Listing Highlights
Status
Active
Days on Site
44
Property Type
Multi-Family
MLS ®
26674141
Year Built
1964
Total Square Footage
12,192
Lot/Acreage
0.26
County
Los Angeles
Interior Details
- Bedrooms: 24
- Bathrooms: 12 Full
- Appliances: Washer
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: 12 car
- Parking Spaces: 12
- Lot Dimensions: 70x151
- Zoning: RBR-3A
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Garage
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7503011032
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
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Questions About..
525 N Francisca Ave Redondo Beach, CA 90277
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