This six-unit apartment building, located in the highly desirable South Redondo Beach (west of PCH and near the coast), presents a compelling investment opportunity. Offered at an attractive $382,500 per unit, the property boasts a solid 5.02% current cap rate and a 13.96 GRM. With three units to be delivered vacant, new ownership has an immediate opportunity for owner-occupancy or to renovate and achieve market rents, driving the pro-forma cap rate to an impressive 6.03%. The diverse unit mix, coupled with a substantial 7,608-SF lot and the absence of local rent control (defaulting to AB 1482), further enhance the value-add potential of this generational asset in a prime coastal location.
Days on market: 0
Listing updated: May 16, 2025 - 10:59:05
Listed by: Gianluca Jacoli DRE #01938297 310-593-9869, Shield CRE, Inc. - CLAW
Source: CLAW, MLS#: CLW-X82383 Originating MLS: CRMLS
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