214 South Broadway new Save Request In-Person Tour Request Virtual Tour
Redondo Beach,CA 90277
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,776 sqft
Price per Sqft $847
MLS Listing ID PV-24197358
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
Zoning RBR-3A
Interior
Laundry Common Area
Exterior
Garage Gated
Garage Spaces 4.0
Pool None
Community Features Sidewalks
Building
Lot Description Level with Street
Sewer Public Sewer