2102 Manhattan Beach Blvd, Redondo Beach, CA 90278

2102 Manhattan Beach Blvd, Redondo Beach, CA 90278

Redondo Beach, CA

Property Description

Welcome to 2102 Manhattan Beach Blvd. 5 units located across the street from the South Bay’s largest employers. This building has recently been completely rehabbed with improvements including, a full building electrical system upgrade, full roof replacement, new window system, new plumbing upgrades to include in unit washer/dryer infastructure, new garage doors, a new paver walkway with an exterior lighting package and improved landscaping. Unit interiors have been upgraded with, new two-tone cabinets and calacatta-quartz countertops, vinyl plank flooring with modern baseboards, new stainless steel appliance packages with Miele washer/dryers, new shaker doors, and soaking tubs with custom tiled showers and new plumbing hardware. Now operating at a 4.69% CAP, with units recently resigning first or second year terms at increased rates, this property is ready for someone to benefit from long term headache free stabilized cash-flow!

Property Features

  • Sale Price: $3,187,500
  • Area Size: 4,210 Sq. Ft.
  • Land Area: 5,626 Sq. Ft.
  • Year Built: 1958
  • Listing Date: 8/8/2023
  • Closing Date: 9/25/2023
  • Units: 5
  • Current GRM: 15.41
  • Current Cap Rate: 4.68%
  • Price Per Unit: $660,000
  • Market GRM: 14.78
  • Market Cap Rate: 4.95%
  • Current NOI: $154,517

Lyon Stahl Investment Real Estate

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