$2,049,999
This exceptional fourplex presents a desirable owner-user opportunity in the highly sought-after South Redondo Beach market. The property features a vacant 2-bedroom unit - ideal for an investor looking to live on-site while generating supplemental rental income. Situated just blocks from the Pacific Ocean, the Redondo Beach Pier, and King Harbor, and less than one mile from Riviera Village, the property offers unparalleled access to premier coastal amenities, dining, and retail. Set on a spacious 8,512-square-foot lot, the asset also provides significant upside potential through the addition of ADUs, allowing a buyer to further enhance cash flow and long-term value (Buyer to verify). The property benefits from a highly attractive operating profile, with tenants responsible for electricity, gas, and trash expenses while the landlord is only responsible for water, helping to minimize operating expenses. Not subject to local rent control and governed solely by AB 1482, the asset allows for favorable annual rent increases. Additional features include ample on-site parking with four garages and two surface spaces, as well as eligibility for residential financing, broadening the buyer pool and offering more competitive loan terms. With a strong 4.18% current cap rate and 16.31 GRM, along with a 4.77% pro-forma cap rate and 14.86 GRM, this investment offers both stable in-place income and meaningful upside potential.
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Listed by Gianluca Jacoli with Shield CRE, Inc. (310) 593-9869
Property Type
Residential Income
Status
Active
MLS Number
26683107
Year Built
1943
Lot Size
8,512 sq ft