Active
628 S Catalina Avenue
Redondo Beach CA, 90277
$9,000,000
$828.12 per sqft
Active
20 Beds
16 Baths
10,868 sqft
Residential
Built in 1957
Listed by John Katnik with BRC Advisors- BH 310-956-2291
We are proud to present a 16-unit apartment opportunity in the highly desirable Redondo Beach! Offered for sale for the 1st time in almost 20 years, this property offers a unique opportunity to acquire a larger asset a block away from the beach! There is a ton of future potential with this property as it is in one of the best locations in all of the South Bay. Sitting on an oversized corner lot, the offering features a total of 16 apartment units. The unit mix is comprised of 12 one-bedroom/one-bathroom units and 4 two-bedroom one-bathroom units. The asset has been extremely well maintained and is the epitome of a pride of ownership property. With current rental rates below market value, there is significant potential for value add through strategic renovations and future rent increases. The property is currently operating at a 3.09% cap rate and a proforma caprate of 4.84%. Adding to the property's allure is the presence of 14 covered carport parking and 2 garage spaces, which could provide an additional revenue stream if converted into ADUs (Buyer to confirm). Tenants can also enjoy a beautiful swimming pool and on-site laundry, allowing a new owner to maximize future rents. The property is less than a mile from the popular Riviera Village, which features the best restaurants and retail in Redondo Beach. This investment presents a very attractive opportunity to own a sizable asset in the highly desirable city Redondo Beach.
24397985
MLSⓇ ID
May 30, 2024
Listed
September 20, 2024
Updated
Map
628 S Catalina Avenue
Redondo Beach CA, 90277
Interior Features
Total Stories
2
Bedrooms
20
Total Bathrooms
16
Laundry Description
Common Area
Fireplace
No
Cooling
No
Cooling Description
None
Heating
No
Exterior/Building Features
Lot Size
0.33 Acres
Other Property Details
Area Name
157 - S Redondo Bch W of PCH
Days on Market
42
Garage
Yes
Garage Spaces
2
Parking
Attached Carport, Detached Carport, Garage
Parking Total
16
View
No
County
Los Angeles
Pool
No
Pool Features
Community, Lap
Zoning
RBR-3A
Listing Contact:
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Data last updated on 9/20/2024 at 1:02 AM UTC