790 Redondo Avenue is an immaculately maintained duplex in Long Beach, California. The asset is a 1915 construction that consists of two Craftsman bungalows, a large 1,046-square foot one-bedroom/one-bath with a den and in-unit laundry and a three-bedroom/two-bath that is currently leased as an office to a property management company. The bungalows are separated by and share a very spacious fenced patio that is perfect for outdoor living and entertaining. The units are separately metered for gas and electricity, and the property also offers a single-car garage. 790 Redondo Avenue is located in desirable Eastside Long Beach proximate to retail (WalkScore: 88), just one mile from the beach and Belmont Shore, and conveniently near Cal State Long Beach and the 405, 22 and 605 freeways. Tenants enjoy an easy one-block walk to the nearby Starbucks, Smart & Final grocery store, and several popular local restaurants. With its excellent condition, great location in a strong coastal rental market, and top-of-the-market rents being achieved, this offering is an outstanding turnkey investment opportunity. Furthermore, the property management company that leases the front unit is on a month-to-month lease, presenting a new investor with a few potential investment strategies: either retain the company as a reliable tenant, acquire the office space for the investor’s own use, or convert the space back to residential use in the future.
Listing courtesy of Steven Bogoyevac from Steven M. Bogoyevac, Broker
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