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$ 6,100,000
Est. payment /mo
Active
525 N Francisca AVE Redondo Beach, CA 90277
24 Beds
24 Baths
12,192 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 12,192 sqft
Price per Sqft $500
MLS Listing ID 26674141
Bedrooms 24
HOA Y/N No
Year Built 1964
Lot Size 0.261 Acres
Property Description
Located in South Redondo Beach, west of PCH, this exceptional coastal investment offers a rare opportunity to purchase a 12-unit apartment just blocks from the Redondo Beach Pier, King Harbor, and the Pacific Ocean. The property consists of (12) 2-bedroom/1.75-bathroom units with spacious layouts, including four renovated units delivered vacant, allowing an investor to immediately capture market rents and drive income growth. The asset features strong in-place financials with a 4.35% current cap rate and 14.71 GRM, along with a projected 5.30% pro-forma cap rate and 12.79 GRM. This 11,364-SF asset is situated on a large 11,364-SF lot, which presents an attractive opportunity to add ADUs and further enhance returns. Additional highlights include 12 garages and an on-site laundry facility which is able to generate additional income. Furthermore, the property is not subject to Los Angeles rent control and instead falls under AB 1482. With its prime coastal location, desirable unit mix with spacious layouts, rent current income and upside potential, and long-term appreciation, this offering represents a true generational asset in one of the South Bay's most desirable rental markets.
Location
State CA
County Los Angeles
Area 157 - S Redondo Bch W Of Pch
Zoning RBR-3A
Interior
Fireplace No
Appliance Washer
Laundry Laundry Room
Exterior
Parking Features Garage
Garage Spaces 12.0
Garage Description 12.0
Total Parking Spaces 12
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7503011032
Special Listing Condition Standard
Listed by Gianluca Jacoli Shield CRE, Inc. #01938297
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