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Home For Sale

Picture of Home For Sale in Redondo Beach, California, United States

$2,400,000

1104 Opal St
Redondo Beach, California, United States

9bd 8ba

Listed By: Realtyww Info

Listed On: 06/15/2023

Listing ID: GL10070207 View More Details

Description

The subject property is a 4 unit apartment complex in a Prime area of South Redondo Beach on a quiet cul-de-sac just 1 mile from the beach! The property has been in the same family for 45 years and has been well maintained. The rents are significantly below market, with 25-40% upside in rental income on all units. There is immediate upside of 6% on each unit as the seller only gave tenants a 3% increase as of May 1, 2023 and all tenants are on a month-to-month tenancy. The front unit is a large 3-bedroom 2-bath Townhome style unit with an attached 2 car garage. The remaining units are 2-bedroom 1.75-bath units with shared garages, and there are open parking spaces for 2 vehicles. The building is all electric, and the units are separately metered, so that the tenants pay their own electric utilities. There is a laundry room on site that is on a lease with WEB. Each unit has a patio or balcony and there is a common area in back for tenants to BBQ. The building features pitched roofs, copper plumbing and high quality Milgard brand windows have been installed in place of the original windows. This is a great opportunity for an investor or someone who wants to occupy a unit at some time in the future.

For more details:

Listed by: Re Max Commercial Investment Realty
Source: The World Property Journal

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