108 N PROSPECT Avenue, Redondo Beach, CA 90277

$2,389,000
4,492
SqFt
List Price
$2,389,000
Status
ACTIVE
MLS#
21679768
Year Built
1973
Living Sq. Ft
4,492
Lot Size
6,439
Acres
0.14
Lot Location
Landscaped
Days on Market
22
Property Type
Multifamily
Style
Traditional
Stories
Two Levels

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 stabilized 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 property consists of four townhouse-style units made up of (1) three-bed/two-and-a-half-bath owners unit & (3) two-bed/one-and-a-half-bath. The 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. Market rents in the area give this property 23% potential upside. Buyer to do their own due diligence. PLEASE DO NOT DISTURB THE TENANTS.

Additional Information

Lot Description
Fire and Smoke Detection System, Carbon Monoxide Detector(s)
Appliances
Dishwasher, Disposal, Refrigerator, Microwave
Heat
Central
Cooling Description
None
View
City Lights
Garage Spaces Total
6
Number Of Units Total
4
Unit One Total Units
1
Unit One Beds
2
Unit One Baths
1
Unit One Actual Rent
2350.00
Unit One Total Rent
2350.00
Unit One Pro Forma
2650
Unit One Furnished
Unfurnished
Unit Two Total Units
1
Unit Two Beds
2
Unit Two Baths
1
Unit Two Actual Rent
2470.00
Unit Two Total Rent
2470.00
Unit Two Pro Forma
2650
Unit Two Furnished
Unfurnished
Unit Three Total Units
1
Unit Three Beds
2
Unit Three Baths
1
Unit Three Actual Rent
2260.00
Unit Three Total Rent
2260.00
Unit Three Pro Forma
2650
Unit Three Furnished
Unfurnished
Unit Four Total Units
1
Unit Four Beds
3
Unit Four Baths
2
Unit Four Actual Rent
2625.00
Unit Four Total Rent
2625.00
Unit Four Pro Forma
3950
Unit Four Furnished
Unfurnished

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Nabil Awada from Matthews Real Estate Investment Services

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.