224 S Broadway

Redondo Beach, CA 90277 View Map $1,780,000 Ask a Question
Acres0.17
Year1920
224 S Broadway Redondo Beach, CA 90277 | MLS SB19248445 Photo 1
224 S Broadway Redondo Beach, CA 90277 | MLS SB19248445 Map
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Status: Sold
Property Type:Quadruplex
MLS #:SB19248445
Date Sold:12/11/2019
Lot Size:0.17 Acres
County:Los Angeles
Maybe every 5 years this type of property comes up for sale. There is nothing like this for sale in the beach cities right now. Total Vintage Charm. Just 2 blocks from the Redondo Beach Pier sits four, 1920's individual beach cottages. All four units are 1 bed with 1 full bath, plus dining area, and own laundry off kitchens, Each cottage with their own yard & porch. Two units with clawfoot tubs. Original windows and glass. Perfect for a individual or couple. Standalone 2 car garage with 3 car parking spaces in driveway. Attached to garage are 4 separate storage closets.

First time on market in 25 years. This property was originally a 1920's family summer retreat/compound. Additional the property offers a communal hangout to BBQ or just "be." Note: Photos will be added after 10/25.

Per the city, the units may be eligible for the "Mills Act" to have the property taxes lowered by up to 50%. That would involve restoring the units to their original glory. Conversely, it is possible the units can be razed and 3 new attached townhomes can be built. Detailed financials are available including a 20 year cash flow projection.

All units will be unoccupied by December 1, 2019. That makes is very easy to do anything you want with the property. The units need a lot of TLC, but this property could be an absolute jewel with the right vision.

Detailed Maps

Price Change History

Date Old Price New Price Percent Change
12/11/2019$1,800,000$1,780,000-1.1%

Community Information

Address:224 S Broadway Redondo Beach, CA 90277
Area:(157) S Redondo Bch W of PCH
County:Los Angeles
City:Redondo Beach
Zip Code:90277

Architecture

Year Built:1920
Stories:One
Style:Cottage
Total Units: 4
Unit 1: 1 Unit•1 Bed•1 Bath•1 Garage•Unfurnished•$1,500 actual rent•$1,500 total rent•$2,450 pro forma
Unit 2: 1 Unit•1 Bed•1 Bath•1 Garage•Unfurnished•$1,500 actual rent•$1,500 total rent•$2,450 pro forma
Unit 3: 1 Unit•1 Bed•1 Bath•Unfurnished•$1,300 actual rent•$1,300 total rent•$2,450 pro forma
Unit 4: 1 Unit•1 Bed•1 Bath•Unfurnished•$1,000 total rent•$2,450 pro forma
Roofing: Asphalt
Basement: Electricity, Gas
Garage Spaces: 2

Features / Amenities

Floor Material: Laminate, Wood
Common Walls: No Common Walls
Parking Total: 5
Appliances: Water Heater
Heating Type: Wall Furnace

Property Features

Lot Size: 0.17 Acres / 7505 Sq. Ft.
Lot Dimensions:50x150
Lot Features: Level with Street, Lot 6500-9999, Rectangular Lot, Level, Tear Down, Value In Land, Yard
Lot Number: 38
Sewer: Public Sewer
Water: Public
Fence: Average Condition
Zoning:RBR-3A
Directions:Traveling North on PCH, Make a left turn on Torrance Blvd, then a right turn onto Broadway.

Tax and Financial Info

Tenant Pays: Electricity, Gas
Land Lease: No
Gardener Expense: 960.00
Insurance Expense: 1764.00
Maintenance Expense: 2352.00
Pest Expense: 600.00
Trash Expense: 312.00
Water / Sewer Expense: 1500.00
Total Expenses: 30793.00
Gross Operating Income: 111720.00

Schools

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Listing provided courtesy of Nick Peters, Engel & Volkers La-South Bay.
Based on information from California Regional Multiple Listing Service, Inc. as of June 4, 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.