108 N PROSPECT Avenue, Redondo Beach, CA 90277

$2,060,000
Sold Price
$2,060,000
List Price
$2,250,000
Closing Date
Jan 31, 2020
Status
CLOSED
MLS#
19518638
Year Built
1973
Lot Size
6,439
Days on Market
67
Property Type
Multifamily

Property Description

This 4-unit apartment building is an opportunity for an investor to purchase a multifamily property in the heart of beautiful South Redondo Beach. This turn-key investment allows for an owner to live in one unit and enjoy the top of the market rental income from the others. This opportunity also allows for a potential investor to obtain residential financing. The building consists of (1) three-bedroom/two-bathroom owner's unit and (3) two-bedroom/one and a half-bathroom units. Property is located less than one mile away from the beach and is near award-winning Redondo Beach schools. A buyer can capitalize on the tight rental market and rents in this neighborhood by implementing a strategic unit interior renovation plan, which will upgrade the units and allow the buyer to command top of the market rents. Rents at the high end of the range result in 26% upside.

Additional Information

Total Number of Units
4

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of David Harrington from Matthews Real Estate Investment Services

Listing sold by David Harrington from Matthews Real Estate Investment Services