906 Torrance BLVD Save Request In-Person Tour Request Virtual Tour
Redondo Beach,CA 90277
Key Details
Sold Price $7,350,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 19,944 sqft
Price per Sqft $368
MLS Listing ID 24437465
Sold Date
Bedrooms 38
HOA Y/N No
Year Built 1962
Lot Size 0.468 Acres
Property Description
This 26 Unit Property presents an opportunity to add value to a very desirable asset in a Premium location. The 906 Redondo Apts. is located in one of Southern California's most sought-after areas, Redondo Beach. It's about a mile from Redondo Pier/Fisherman's Wharf, and the Pacific Ocean. This is a mecca for weekend tourists with over 50 options for dining, shopping, and water activities. The charming Flatiron style building built in the 60's, sits on a robust commercial corner, but offers the tenants parking access off a quiet cul-de-sac. The unit mix is ideal with (2) 3 BR's; (7) 2BR's and (17) 1BR's. There are 24 covered parking spaces plus (3) garages. The front entrance features a lush garden with a tropical theme and a stairwell to the secure gate. That entry leads to an open courtyard with a heated pool, and lounge area for tenants. The property has been professionally managed for years and offers immediate and attainable upside of 27%. The city of Redondo Beach is subject only to state rent control (AB1482) and rents can be raised annually by 5% plus CPI.
Location
State CA
County Los Angeles
Area 156 - S Redondo Bch S Of Torrance Bl
Zoning RBC-2
Interior
Interior Features Ceiling Fan(s)
Heating Natural Gas
Cooling None
Fireplace No
Appliance Dishwasher,Disposal
Exterior
Parking Features Assigned,Garage
Garage Spaces 3.0
Garage Description 3.0
Community Features Gated
Total Parking Spaces 27
Building
Faces North
Story 1
Entry Level Two
Architectural Style Mid-Century Modern
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7506022056
Security Features Gated Community,Resident Manager
Special Listing Condition Standard