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Listed by William Mulkey, DRE #00986020 • TR Wealth Management Inc.
$ 7,100,000
Est. payment /mo
Price Dropped by $200K
124 Palos Verdes BLD Redondo Beach, CA 90277
7,954 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26088593
Year Built 1958
Lot Size 7,954 Sqft
Source California Regional MLS
Property Description
ANOTHER $200K PRICE REDUCTION! 4.5% CAP. TR WEALTH is pleased to present a rare opportunity to acquire a 10-unit trophy multifamily asset located in South Redondo Beach / Hollywood Riviera submarket. The addresses are 124-128 Palos Verdes Blvd totaling 9,914 sf with similar floor plans and ocean views. The property is two separate APN (Parcels) with 5 units each forming a central courtyard. Perched in a premier coastal setting, this asset has ocean views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces. A desirable unit mix of 9 large 2-bedrooms, 1 bathroom & 1 2-bedroom, 2 baths units offering 975 rentable area and spacious & functional layouts makes tenants want to reside here. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements delivers a turnkey investment with minimal deferred maintenance. The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot
Location
State CA
County Los Angeles
Area 699 - Not Defined
Rooms
Kitchen Dishwasher, Hood Over Range, Other, Pantry, Exhaust Fan, Oven Range, Oven - Gas, Oven - Electric
Interior
Heating Floor Furnace , Wall Furnace
Cooling None
Laundry Washer/Dryer - Owned, Stacked Only
Exterior
Parking Features Garage
Garage Spaces 20.0
Pool None
View Ocean, Other, Water, City Lights
Roof Type Shingle,Composition
Building
Story Split Level
Foundation Raised
Water District - Public
Others
Tax ID 7514001005
Special Listing Condition Not Applicable
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