214 S Broadway Redondo Beach, CA 90277

Active

$3,200,000

6 Units

6 Beds

6 Baths

3,776 Area(sq.ft.)

7,537 Lot Size(sq.ft.)

Type	# of Units	Bedroom	Bath	Furnished	Rent	Actual Rent	Projected Rent
Unit 1	1	1	1	No	$ 1,925	$ 1,925	$ 2,800
Unit 2	1	1	1	No	$ 2,245	$ 2,245	$ 2,800
Unit 3	1	1	1	No	$ 1,875	$ 1,875	$ 2,800
Unit 4	1	1	1	No	$ 2,500	$ 2,500	$ 2,800
Unit 5	1	1	1	No	$ 2,700	$ 2,700	$ 2,710
Unit 6	1	1	1	No	$ 1,900	$ 1,900	$ 2,800
6	6	6	6		$ 13,145	$ 13,145	$ 16,710

MLS #:	PV24197358MR
Days On Market:	5
County:	Los Angeles
Property Type:	Residential Income
Price per ft²:	$ 847
Price per unit:	$ 533,333
Year Built:	1921

Income Details / Structure / Land & Parking / Interior Features / Exterior Features

Property Details

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.