Property Type:Residential Income (Multi-Family)
Lot Size:0.15 Acres
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 turn-key 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 building consists of (1) three-bedroom/two-bathroom owner's unit and (3) two-bedroom/one and a half-bathroom units. 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. Rents at the high end of the range result in 26% upside.
Address:108 N Prospect Avenue Redondo Beach, CA 90277
Total Units: 4
Unit 1: 1 Unit•3 Beds•2 Baths•Unfurnished•$2,500 actual rent•$2,500 total rent•$3,850 pro forma
Unit 2: 1 Unit•2 Beds•1 Bath•Unfurnished•$2,350 actual rent•$2,350 total rent•$2,650 pro forma
Unit 3: 1 Unit•2 Beds•1 Bath•Unfurnished•$2,350 actual rent•$2,350 total rent•$2,650 pro forma
Unit 4: 1 Unit•2 Beds•1 Bath•Unfurnished•$2,150 actual rent•$2,150 total rent•$2,650 pro forma
Lot Size: 0.15 Acres / 6439 Sq. Ft.
Directions:North of Torrance Blvd, East of PCH.
Tax and Financial Info
Gross Annual Income: 112200.00
Gross Operating Income: 108834.00
WALKING AND TRANSPORTATION
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Listing Information Last Updated 2/20/2020
Listing provided courtesy of David Harrington, Matthews Real Estate Investment Services.
Based on information from California Regional Multiple Listing Service, Inc. as of February 20, 2020. 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. IDX provided by Sierra Interactive.