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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 2,249,000

Est. payment | -/mo

9 Beds

7 Baths

4,260 SqFt

Save

$ 2,249,000

Est. payment | -/mo

Save

9 Beds

7 Baths

4,260 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,260 sqft

Price per Sqft $527

MLS Listing ID 26742045

Bedrooms 9

HOA Y/N No

Year Built 1963

Lot Size 5,540 Sqft

Property Description

This well-located fourplex offers a premier investment opportunity in the highly sought-after South Redondo Beach market, situated approximately one mile from the Redondo Beach Pier, King Harbor, and the Pacific Ocean. The property provides tenants with convenient access to an abundance of coastal dining, retail, and lifestyle amenities. The asset features an attractive unit mix of (1) 4-bed/1.75-bath front unit, (2) 2-bed/1.75-bath units and (1) 1-bed/1-bath unit. From an investment standpoint, the property offers a compelling financial profile with a 4.34% current cap rate and 15.70 GRM, along with significant upside to a 6.02% pro-forma cap rate and 12.35 GRM. Not subject to local rent control (AB 1482 only), the asset allows for consistent and favorable rent growth. The all-electric configuration eliminates gas expenses and supports an efficient operating structure with minimal expenses. Additional features include five garage spaces providing ample garage parking for tenants. The property also boasts strong curb appeal with a recently painted exterior and new landscaping. The asset also qualifies for residential financing, expanding buyer's financing options and offering access to more attractive loan terms.

Location

State CA

County Los Angeles

Area 155 - S Redondo Bch N Of Torrance Bl

Zoning RBRMD

Interior

Fireplace No

Exterior

Parking Features Garage

Garage Spaces 5.0

Garage Description 5.0

Total Parking Spaces 5

Building

Story 2

Entry Level One,Two

Level or Stories One, Two

New Construction No

Others

Senior Community No

Tax ID 7502015030

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Gianluca Jacoli Shield CRE, Inc. #01938297

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA 92124

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1304 Amethyst ST Redondo Beach, CA 90277