124 Palos Verdes BLD, Redondo Beach, CA 90277
- $7,100,000
Listed by William Mulkey, 310-919-7554 from TR Wealth Management Inc.
(If provided) CoList: from
- List Price
- $7,100,000
- Price Change
- ▼ $200,000 1784000117
- MLS#
- CRSB26088593
- Status
- ACTIVE
- Levels
- Split Level
- Lot Size
- 7,954
- Listing Area
- 699 - Not Defined
- Year Built
- 1958
Property Description
ANOTHER $200K PRICE REDUCTION! 4.5% CAP. TR WEALTH is pleased to present a rare opportunity to acquire a 10-unit trophy multifamily asset located in South Redondo Beach / Hollywood Riviera submarket. The addresses are 124-128 Palos Verdes Blvd totaling 9,914 sf with similar floor plans and ocean views. The property is two separate APN (Parcels) with 5 units each forming a central courtyard. Perched in a premier coastal setting, this asset has ocean views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces. A desirable unit mix of 9 large 2-bedrooms, 1 bathroom & 1 2-bedroom, 2 baths units offering 975 rentable area and spacious & functional layouts makes tenants want to reside here. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements delivers a turnkey investment with minimal deferred maintenance. The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot
Additional Information
- Amenities
- Double Pane Windows(s), Other
- Cooling System
- None
- Energy Features
- Ceiling Fan(s), Energy Star Windows/ Doors, Double Pane Windows
- Foundation
- Raised
- Garage Parking
- Garage
- Heating System
- Floor Furnace, Wall Furnace
- Laundry Facilities
- Washer/Dryer - Owned, Stacked Only
- Levels
- Split Level
- Lot Size
- 7,954
- Neighborhood
- 699 - Not Defined
- Pool Description
- None
- Roof
- Shingle, Composition
- Unincorporated Yn
- Yes
- View
- Ocean View, Other, Water, View of City Lights
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