6 Units in Redondo Beach | $3,000,000

6 Units in Redondo Beach | $3,000,000

Lyon | Stahl is pleased to present 2211 Grant Avenue, Redondo Beach, CA 90278.

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This beautiful 6-Unit apartment building is located less than 10 minutes from the ocean. This property boasts 1972 construction and features six large 2 bedroom/2-bathroom units with their own private 2-car garages. With great in-place income and significant upside rent potential, this is an excellent opportunity for an investor to come in and make some minor upgrades and command top of the market rents. Each unit features approximately 1,120 SF of total living area with an open living room/kitchen layout and large walk-in closets. Four of the units have been updated with laminate flooring and other general upgrades.

Listed at $3,000,000, this building was built in 1972, has a cap rate of 3.35%, a GRM of 18.70 and a NOI of $100,447.

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Investment Highlights:

  • Unit Mix: (6) 2-Bedroom/2-Bathroom Units.
  • 6,720 SF of Total Living Area situated on a 7,503 SF Lot.
  • Proforma 4.39% CAP & 15.58 GRM.
  • Each unit is approximately 1,120 SF with their own 2-car garages.
  • Excellent opportunity to own an investment property in a highly desirable area with limited inventory!

 

 

 

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