Property listed by Shield CRE, Inc., Gianluca Jacoli 310-593-9869
$2,049,999
This exceptional fourplex presents a desirable owner-user opportunity in the highly sought-after South Redondo Beach market. The property features a vacant 2-bedroom unit - ideal for an investor looking to live on-site while generating supplemental rental income. Situated just blocks from the Pacific Ocean, the Redondo Beach Pier, and King… Read More Harbor, and less than one mile from Riviera Village, the property offers unparalleled access to premier coastal amenities, dining, and retail. Set on a spacious 8,512-square-foot lot, the asset also provides significant upside potential through the addition of ADUs, allowing a buyer to further enhance cash flow and long-term value (Buyer to verify). The property benefits from a highly attractive operating profile, with tenants responsible for electricity, gas, and cable/internet expenses while the landlord is only responsible for water, helping to minimize operating expenses. Not subject to local rent control and governed solely by AB 1482, the asset allows for favorable annual rent increases. Additional features include ample on-site parking with four garages and two surface spaces, as well as eligibility for residential financing, broadening the buyer pool and offering more competitive loan terms. With a strong 4.18% current cap rate and 16.31 GRM, along with a 4.77% pro-forma cap rate and 14.86 GRM, this investment offers both stable in-place income and meaningful upside potential. Read Less
Listing Snapshot
Days Online
23
Last Updated
Beds
6
Square Ft.
2,936
Lot Size
0.2 Acres
Year Built
1943
MLS Number
26683107
Additional Details
Building
Built in 1943, Living area: 2936.0, 1 building, 2 stories, Levels: One, Two
Garage
4 spaces
Income
Gross Income: $125,700, Net Operating Income: $85,768
Lot
0.1954 acres
Parking
2 open parking spaces, 6 total parking spaces, Assigned, Garage
Taxes
Parcel Number: 7508024027, Zoning: RBRH-1
Utilities
4 separate electric meters, 4 separate gas meters
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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