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303 S Lucia Avenue, Redondo Beach, CA 90277

$2,150,000

Description

Lyon | Stahl is proud to present this rare opportunity to own a newly renovated 4-Unit apartment building in beautiful South Redondo Beach. Located less than a mile from the beach, the property sits on a 6,201 square foot lot and boasts a sizable 4,549 square feet of total living space. Three of the four units are two-stories with a town-home style layout and include following: Resurfaced private roof top decks, updated kitchens and bathrooms, new windows and laminate flooring throughout, all done in 2017. The roof was replaced, the exterior was repainted, and the building passed termite clearance in 2016 – 2017. With strong rental income totaling $9,080/m and proforma rents over $10,000/m this is an incredible investment opportunity in a prime area with consistently low inventory. The front unit comprised of 3 bedrooms & 2.5 bathrooms makes this the perfect situation for an owner user or first-time investment property buyer.

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Address

  • Address: 303 S Lucia Avenue
  • City: Redondo Beach
  • State/county: CA
  • Zip/Postal Code: 90277
  • Country: United States

Detail

Updated on August 24, 2018 at 3:55 pm

  • Price: $2,150,000
  • List Date: 4/26/18
  • Property Size: 4,549 Sq ft
  • Land Area: 6,201 Sq ft
  • Garage Size: 6
  • Year Built: 1972
  • Property Type: Multifamily
  • Property Status: Sold
  • Numbers of Units: 4
  • NOI: $72,848
  • GRM: 19.27
  • CAP RATE: 3.47%
  • Price per Unit: $525,000
  • Market GRM: 16.83
  • Market CAP RATE: 4.18%

Contact info

Johnnie Stiegler
Johnnie Stiegler
(310) 990-9685(310) 447-2213
Corey Rasmussen
Corey Rasmussen
(310) 990-0309(310) 948-8284
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