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Key Details
Sold Price $2,060,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,492 sqft
Price per Sqft $458
MLS Listing ID 19518638
Sold Date 01/31/20
HOA Y/N No
Year Built 1973
Property Description
This 4-unit apartment building is an opportunity for an investor to purchase a multifamily property in the heart of beautiful South Redondo Beach. This turn-key investment allows for an owner to live in one unit and enjoy the top of the market rental income from the others. This opportunity also allows for a potential investor to obtain residential financing. The building consists of (1) three-bedroom/two-bathroom owner's unit and (3) two-bedroom/one and a half-bathroom units. Property is located less than one mile away from the beach and is near award-winning Redondo Beach schools. A buyer can capitalize on the tight rental market and rents in this neighborhood by implementing a strategic unit interior renovation plan, which will upgrade the units and allow the buyer to command top of the market rents. Rents at the high end of the range result in 26% upside.
Location
State CA
County Los Angeles
Area 155 - S Redondo Bch N Of Torrance Bl
Zoning RBR-3
Interior
Fireplace No
Exterior
Garage Garage
Parking Type Garage
Building
Story 2
Others
Senior Community No
Tax ID 7518004019
Special Listing Condition Standard
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Bought with David Harrington • Matthews Real Estate Investment Services
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