1324 Amethyst St, Redondo Beach, CA 90277

1324 Amethyst St, Redondo Beach, CA 90277

Redondo Beach, CA

Property Description

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Lyon Stahl is proud to present 1324 Amethyst St, a 4-unit building for sale in Redondo Beach. This 4,378 SF building was built in 1963 and is centrally located near restaurants, shops, and the beach. Situated on a 5,490 SF lot, this property features five (5) garages and a desirable unit mix consisting of one (1) 3- bed/2.5-bath, two (2) 2-bed/2-bath, and one (1) 1-bed/1-bath unit. The property contains all copper plumbing, as well as a new flat roof (2016), deck (2018), and fence. The building was also recently painted and landscaped with drought-resistant material (water efficient drip system). Additionally, Unit A has been partially remodeled with granite countertops and a new stove. Given the great location and high upside in market rent potential (over 50% increase in potential rent), this property is an excellent opportunity for any investor looking to acquire prime Redondo Beach real estate.

<strong>Investment Highlights:
</strong>● 4,170 SF building situated on 5,490 SF of land
● Desirable unit mix consisting of (1) 3-bed/2.5-bath, (2) 2-bed/2-bath, &amp; (1) 1-bed/1-bath unit
● Property features all copper plumbing, a new flat roof (2016), &amp; new deck (2018)
● Fencing has been replaced, exterior has been repainted, &amp; drought resistant landscaping installed
● Unit A has been partially remodeled | New granite and stove top
● Excellent location | Minutes from Pacific Coast Hwy, Redondo Union High School, and local shopping centers

Property Features

  • Sale Price: $1,885,000
  • Area Size: 4,170 SF
  • Land Area: 5,490 SF
  • Year Built: 1963
  • Closing Date: 2/27/19
  • Units: 4
  • Current GRM: 26.25
  • Current Cap Rate: 1.88%
  • Price Per Unit: $487,500
  • Current NOI: $96,131