$2,285,000
This well-located fourplex offers a premier investment opportunity in the highly sought-after South Redondo Beach market, situated approximately one mile from the Redondo Beach Pier, King Harbor, and the Pacific Ocean. The property provides tenants with convenient access to an abundance of coastal dining, retail, and lifestyle amenities. Featuring an attractive unit mix, the asset is ideally suited for an owner-user seeking to occupy a unit while generating supplemental rental income, or for an investor pursuing a stable, long-term hold. The property also boasts strong curb appeal with a recently painted exterior, further contributing to its marketability and tenant appeal. From an investment standpoint, the property offers a compelling financial profile with a 4.26% current cap rate and 15.95 GRM, along with significant upside to a 5.91% pro-forma cap rate and 12.54 GRM. Not subject to local rent control (AB 1482 only), the asset allows for consistent and favorable rent growth. The all-electric configuration eliminates gas expenses and supports an efficient operating structure with minimal expenses. Additional features include five garage spaces providing ample parking, as well as key building upgrades such as a roof replacement approximately 10 years ago and plumbing improvements completed roughly 15 years ago. The property also qualifies for residential financing, expanding the buyer pool and offering access to more attractive loan terms.
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Listed by Gianluca Jacoli with Shield CRE, Inc. (310) 593-9869
Property Type
Residential Income
Status
Active
MLS Number
26742045
Year Built
1963
Lot Size
5,541 sq ft