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Just Listed – 7 Units in South Redondo Beach

Just Listed – 7 Units in South Redondo Beach

Lyon | Stahl is proud to present 215 Carnelian St, a 7-unit apartment building for sale in Redondo Beach!


Listed at $2,475,000 this building was built in 1925, has a cap rate of 3.09% and an NOI of $76,546.


Back on the Market at a whopping $325k Price Reduction! This beautifully restored 7-unit apartment building is in a prime location in South Redondo Beach, just 2 blocks from the beach, pier, harbor, marina, bike path and more. …Consisting of six (approx. 400 sq. ft.) single apartments with a shared-yard, and one (approx. 1,500 sq. ft.) 3 bedroom apartment… ideal for a possible owner’s unit with its own large separate yard. This property demonstrates a vintage 1925 Spanish Colonial Architectural Style with one of the very few surviving Classic Quant and Original 1920’s Old Spanish Courts from Redondo’s Glory Days and is now a ‘Landmark’ smack in the heart of Old Downtown Redondo’s “Mid-Way”.


The property is charming and authentic …not just dolled-up, but well-maintained and updated in all the right places with authenticity always in mind. Featuring a brand-new roof that was installed last year, this building has been completely re-wired and repiped with copper and PVC. The exterior has also been painted, re-stuccoed, and relanscaped. The original hardwood flooring (almost 100 years old) has been repaired, restored, and refinished in three of the studio units. One unit has even been completely refurbished and re-plastered… featuring a remodeled kitchen with all new cabinetry, appliances, fixtures, and a tankless water heater. One of the studio units will be delivered vacant and is currently undergoing updates including fresh paint and hardwood flooring.

Investment Highlights:

● Back on Market | $325,000 Price Reduction!
● Beautifully Restored 7-Unit Spanish Colonial-Style Apartment Building
● Unit Mix: (1) 3-Bed/1.5-Bath Unit & (6) Studio Units
● 6 Occupied Units on Month to Month Leases | 1 Vacant Studio
● Incredible Location: Just a Couple Blocks from the Harbor, Pier, and Ocean!
● 2 Parcels | Total Lot Size is 7,089 SF
● 3,858 SF Building on a 5,291 SF Lot | 1,798 SF Private Backyard Patio

City Overview:
Redondo Beach is one of three Beach Cities in the South Bay region of Los Angeles bordered by Manhattan Beach, Hermosa Beach, Torrance, Hawthorne, and Lawndale. A main attraction to the city is the Redondo Beach Pier which is the largest endless pier on the California coast. Much of Redondo Beach’s lifestyle is influenced by its sister cities: Manhattan
Beach and Hermosa Beach. The city maintains permanent beach volleyball nets year-round and dedicates lanes to the bike path that runs past the Redondo Beach King Harbor Marina complex. Surfing is another essential element to the South Bay lifestyle. Properties in Redondo Beach within walking distance of the Pacific Ocean routinely sell for above-average prices. The median price of homes listed in the Redondo Beach real estate market is currently $1,100,000 and home values have gone up 8.4% over the past year.

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