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Listed by Keith Kelley • Palm Realty Boutique
$ 3,200,000
Est. payment | /mo
3,776 SqFt
$ 3,200,000
Est. payment | /mo
3,776 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,776 sqft
Price per Sqft $847
MLS Listing ID CRPV24197358
HOA Y/N No
Originating Board Datashare California Regional
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
Interior
Fireplace No
Laundry Other
Building
Lot Description Level
Water Public
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Vander Meulen Real Estate Group
Broker, REALTOR® | Lic# 00842213 | Lic# 02150745