2003 Gates Ave, Redondo Beach, CA 90278

2003 Gates Ave, Redondo Beach, CA 90278

Redondo Beach, CA

Property Description


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Lyon Stahl is excited to present 2003 Gates Ave in Redondo Beach! This North Redondo Beach duplex features 1,957 SF of living space on a 7,499 SF lot. Built in 1947, this property has been well-maintained and contains a landscaped yard and a large driveway with a 2-car garage. The front 3-bed/1-bath unit features a front yard area and shared back patio; the back1-bed/1-bath unit also includes its own private yard in the rear and will be delivered vacant.

Located just 1.7 miles away, South Bay Galleria Improvement Project, a mixed-use redevelopment project that will add 217,000 SF of entertainment, dining, and shops, along with a 150-room hotel, 300 apartment units and 6 acres of outdoor space.

This opportunity also allows for a potential investor to obtain 30-year fixed residential financing while rates are at a historic low. Hitting the market for the first time since 1969, 2003 Gates Ave is an excellent owner-user buy, allowing for an owner to live in one unit and enjoy the top of the market rental income from the other.

<strong>Investment Highlights:
<li>North Redondo Duplex Situated on a Large 7,499 Sq Ft Lot</li>
<li>Front Unit: 3-Bed/1-Bath | Rear Unit: 1-Bed/1-Bath | 1,957 Sq Ft</li>
<li>Large Driveway Leading to Detached 2-Car Garage</li>
<li>Built in 1947 | Landscaped Front Yard</li>
<li>Two Blocks to Manhattan Beach – Short Distance to Redondo Beach Performing Arts Center, Polliwog Park, and South Bay Development Project</li>

Property Features

  • Sale Price: $1,250,000
  • Area Size: 1,957 SF
  • Land Area: 7,499 SF
  • Year Built: 1947
  • Closing Date: 11/25/19
  • Units: 2
  • Current GRM: 30.82
  • Current Cap Rate: 1.68%
  • Price Per Unit: $675,000
  • Market GRM: 23.44
  • Market Cap Rate: 2.70%

Lyon Stahl Investment Real Estate

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