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Key Details
Sold Price $2,500,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW23095581
Sold Date 10/16/23
Bedrooms 5
HOA Y/N No
Lot Size 5,000 Sqft
Property Description
Well maintained 7 unit apartment building located in North Redondo Beach. First time on the market in almost 40 years. The unit mix consists of a 1-2bd/2ba unit and 6-1bd/1ba units and 7 garages. Property is separately metered for gas and electric and has a leased onsite laundry facility. Property is low maintenance and primarily consists of stable long term tenants. 3 of the units have been recently renovated. Projected rental upside of over 25%. Located in a high demand rental area with close proximity to the beach and convenient access to the 405 freeway. Great opportunity to acquire a quality income producing asset in a highly desirable neighborhood. Back on the market through no fault of the property.
Well maintained 7 unit apartment building located in North Redondo Beach. First time on the market in almost 40 years. The unit mix consists of a 1-2bd/2ba unit and 6-1bd/1ba units and 7 garages. Property is separately metered for gas and electric and has a leased onsite laundry facility. Property is low maintenance and primarily consists of stable long term tenants. 3 of the units have been recently renovated. Projected rental upside of over 25%. Located in a high demand rental area with close proximity to the beach and convenient access to the 405 freeway. Great opportunity to acquire a quality income producing asset in a highly desirable neighborhood. Back on the market through no fault of the property.
Location
State CA
County Los Angeles
Area Redondo Beach (90278)
Zoning Assessor
Building
Lot Description Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Level or Stories 2 Story
Others
Acceptable Financing Cash
Space Rent $2,062
Listing Terms Cash
Financing Cash
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Bought with Rick Pranada • Reily Investments, Inc