214 S Broadway
Redondo Beach, CA 90277
0.17 acres | #PV24197358
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.
Property Details
- Lot DescriptionStreetLevel
- Stories2
Measurements
- Acres0.173
Parking
- Parking Spaces4
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1921
Utilities / Energy Details
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$3,200,000
Other
- MLS #PV24197358
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Keith Kelley (#VKELLKEI)
Listing Office: Palm Realty Boutique (#V8496)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
