Active
$3,950,000
8 Units
8 Beds
8 Baths
4,248 Area(sq.ft.)
Lot: 11,309 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 1 | 1 | No | $ 2,370 | $ 2,370 | $ 2,925 |
| Unit 2 | 1 | 1 | 1 | No | $ 2,650 | $ 2,650 | $ 2,925 |
| Unit 3 | 1 | 1 | 1 | No | $ 2,550 | $ 2,550 | $ 2,925 |
| Unit 4 | 1 | 1 | 1 | No | $ 2,200 | $ 2,200 | $ 2,925 |
| Unit 5 | 1 | 1 | 1 | No | $ 2,795 | $ 2,795 | $ 2,925 |
| Unit 6 | 1 | 1 | 1 | No | $ 2,370 | $ 2,370 | $ 2,925 |
| Unit 7 | 1 | 1 | 1 | No | $ 2,370 | $ 2,370 | $ 2,925 |
| Unit 8 | 1 | 1 | 1 | No | $ 2,650 | $ 2,650 | $ 2,925 |
| 8 | 8 | 8 | $ 19,955 | $ 19,955 | $ 23,400 |
| MLS #: | 25539701 |
| Days On Market: | 203 |
| Listing Date: | May 16, 2025 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 930 |
| Price per unit: | $ 493,750 |
| Year Built: | 1924 |
Property Details
This eight-unit apartment building offers an exceptional investment opportunity in a prime South Redondo Beach location, just a short 800 feet from the Pacific Ocean. Situated on a large 11,309-SF lot, the property features three fully remodeled units and six garages. Investors will appreciate the potential for an Accessory Dwelling Unit (ADU) to further enhance income. Residents can enjoy a common area courtyard and the convenience of being just blocks from Veterans Parks, the Redondo Beach Pier, and King Harbor. With a pro-forma cap rate of 4.84% and the benefit of no local rent control (defaulting to AB 1482), this generational asset presents significant value-add potential in a highly sought-after coastal market.Interested in this Listing?
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Income Details
| Gross Operating Income: | $ 234,256 |
| Total Annual Expense: | $ 81,006 |
| Net Operating Income: | $ 153,250 |
| Gross Annual Income: | $ 241,440 |
| Cap Rate: | 3.88% |
| Gross Rent Multiplier: | 16.50 |
| Actual Gross Rent: | $ 239,460 |
| Actual Gross Income: | $ 241,440 |
| Actual Rent Total: | $ 239,460 |
Structure
| Type of Units: | 1 BD + 1 BA |
| Buildings: | 7 |
| Levels: | One, Two |
Land & Parking
| Zoning: | RBR-3A |
| Parking Garage: | Garage |
Interior
| AC/Cooling: | Other |
| Equipment: | Other |
| Heating: | Other |
Exterior
Detailed Map
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