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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 3,200,000

Est. payment -/mo

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Active

214 S Broadway Redondo Beach, CA 90277

3,776 SqFt

UPDATED:

09/30/2024 05:42 PM

Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 3,776 sqft

Price per Sqft $847

MLS Listing ID PV24197358

HOA Y/N No

Year Built 1921

Lot Size 7,535 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

Zoning RBR-3A

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Sidewalks

Total Parking Spaces 4

Private Pool No

Building

Lot Description Street Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7505019020

Energy Description 570.0

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

Listed by Keith Kelley • Palm Realty Boutique • 310-944-5554

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

214 S Broadway Redondo Beach, CA 90277

Key Details

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Rooms

Interior

Exterior

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Others

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214 S Broadway