$ 7,500,000
-
$7,500,000
Price -
20
Bed -
11
Bath -
4,957
SqFt
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About the Listing S1078 - SMULKWIL
TR WEALTH MANAGEMENT, INC. is pleased to present this rare opportunity to acquire a 10-unit trophy multifamily asset located in the highly desirable South Redondo Beach / Hollywood Riviera submarket. The property is two separate APN (Parcel) with 5 units each forming a central courtyard. The addresses are 124-128 Palos Verdes Blvd. Perched in a premier coastal setting, the property offers ocean views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces. The desirable unit mix of 9 large two-bedroom, one-bathroom & 1 2 bedroom 2 bathroom units averaging 975 square feet, providing spacious & functional layouts. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements—delivering a turnkey investment with minimal deferred maintenance. The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot water heater in units. The asset is not subject to local rent control, providing investors with flexibility to capture future rent growth in a strong and stable rental market. AB1482 State Rent Control only. Located just minutes from Riviera Village, tenants benefit from immediate access to premier dining, retail, and coastal amenities, as well as proximity to the Redondo Beach coastline, parks, and recreation. The property also offers convenient connectivity to Pacific Coast Highway and major South Bay employment centers, including Torrance, El Segundo, and the greater aerospace and technology corridor. Positioned within a high-income coastal community characterized by limited multifamily supply and strong historical appreciation, this offering presents a unique opportunity to acquire an irreplaceable asset with both stable in-place cash flow and long-term upside. Additional value-add potential exists through the possible conversion of two garage spaces into accessory dwelling units (ADUs). This is an ideal acquisition for investors seeking a high-quality, low-maintenance coastal asset in one of Southern California’s most supply-constrained and desirable rental markets.
Listing Highlights
Status
Active
Days on Site
21
Property Type
Multi-Family
MLS ®
SB26088593
Year Built
1958
Total Square Footage
4,957
Lot/Acreage
0.18
County
Los Angeles
Area
699 - Not Defined
Interior Details
- Bedrooms: 20
- Bathrooms: 11 Full
- Appliances: Dishwasher, Electric Cooktop, Electric Oven, Free-Standing Range, Gas Oven, Gas Water Heater, Range Hood, Vented Exhaust Fan
- Air Cond:
- Heating: Floor Furnace,Wall Furnace
- Fireplaces: Family Room
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Ceiling Fan(s),Crown Molding,Open Floorplan,Pantry,Recessed Lighting,Unfurnished
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: 10 car
- Parking Spaces: 20
- Roof: Composition,Shingle
- Others: Lighting,Rain Gutters,Updated/Remodeled,Drywall,Stucco,2+ Total Units
- Sewer: Public Sewer
- Parking Features: Garage,Tandem
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 7514001005
- Tax Year: N/A
Payment Calculator
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Questions About..
124 Palos Verdes Boulevard Redondo Beach, CA 90277
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