214 S Broadway

Redondo Beach, CA 90277
$3,200,000
0.17 acres | #PV24197358
Courtesy of Palm Realty Boutique

Description

Prime South Redondo Beach Location just blocks from the Redondo Beach Pier and Harbor. This 7,534 sq ft property sits West of Pacific Coast Highway offering 4 - 1 bedroom 1 bathroom units in the front building and 2 - 1 bedroom 1 bathroom free standing cottages. There is tremendous upside potential with rent increases to market rents as well as potential for an ADU. The property also offers 4 single car garages. Owner has completed upgrades including a new roof installation which is in process. Current CAP rate of 3.4% with $157,740 Gross annual income. Huge upside with Pro forma income of $200,520 would bring the CAP rate to 4.7%. Great opportunity to own a prime location building with huge future upside.

  • Property Details
      • Stories:2
      • Lot description:StreetLevel
      • Acres:0.173
      • Parking spaces:4
      • Property type:Multi-Family
      • Year built:1921
      • Sewer information:PublicSewer
      • Utility source:Public
      • County:Los Angeles
      • Original List Price:$3, 200, 000
      • MLS #:PV24197358
      • Cost:3200000
      • Property subtype:MixedUse
      • MLS #:PV24197358

Location

The Alcantara GroupReal Estate Group
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Down Payment

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10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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annually
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monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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