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Just Closed – 4 Units in South Redondo Beach | $2,150,000

Just Closed – 4 Units in South Redondo Beach | $2,150,000

Lyon | Stahl is excited to have closed 303 S Lucia Ave in South Redondo Beach! This is a 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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Investment Highlights
  • Property Fully Occupied – All Leases on Month-to-Month Basis
  • Proforma Income Over $10,400/m
  • Three Town-home Style Units All Over 1,000 sqft
  • 4 Newly Resurfaced Private Rooftop Decks
  • 4 Enclosed Parking Garages (up to 6 cars total)
  • Newly Updated Bathrooms, Kitchens, Windows and Laminate Flooring
  • New Roof and Exterior Paint 2017
  • Termite Clearance in 2016
  • On-site Laundry – Producing Additional Monthly Income
  • Less than 1 Mile from the Beach

 

To learn more about this property:

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