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$3,200,000
Est. payment /mo
7,537 Sqft Lot
UPDATED:
01/03/2025 06:20 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPV24197358
Originating Board California Regional MLS
Year Built 1921
Lot Size 7,537 Sqft
Property Description
Prime South Redondo Beach Location just blocks from the Redondo Beach Pier and Harbor. This 7,534 sq ft property sits West of Pacific Coast Highway offering 4 - 1 bedroom 1 bathroom units in the front building and 2 - 1 bedroom 1 bathroom free standing cottages. There is tremendous upside potential with rent increases to market rents as well as potential for an ADU. The property also offers 4 single car garages. Owner has completed upgrades including a new roof installation which is in process. Current CAP rate of 3.4% with $157,740 Gross annual income. Huge upside with Pro forma income of $200,520 would bring the CAP rate to 4.7%. Great opportunity to own a prime location building with huge future upside.
Location
State CA
County Los Angeles
Area 157 - S Redondo Bch W Of Pch
Interior
Laundry Laundry Area
Exterior
Garage Spaces 4.0
Pool None
Building
Lot Description Grade - Level
Water District - Public
Others
Tax ID 7505019020
Special Listing Condition Not Applicable
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Listed by Keith Kelley • Palm Realty Boutique
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Joel Martinez
Property Connection Specialist | License ID: 02338033
Property Connection Specialist License ID: 02338033