2400 Vanderbilt Ln, Redondo Beach, CA 90278

2400 Vanderbilt Ln, Redondo Beach, CA 90278

Redondo Beach, CA

Property Description

Fantastic Opportunity to Acquire a Well Maintained 9-Unit Apartment Building in North Redondo Beach. Property upgrades include a new roof, interior upgrades in 5 of the 9 units (within the past 18 months – upgrades vary per unit). Features include new vinyl plank and tile flooring, tiled showers, new cabinetry, new counters, smooth ceilings, and recessed lighting. Strong rental location with 7 of the 9 tenants on month-to-month agreements. Room to raise rents in 2023. The unit mix consists of (1) 2 Bedroom 1 Bath and (8) 1 Bedroom 1 Bath. Ample uncovered parking for 9 vehicles plus two 1-car garages. Separate gas & electric meters along with five of the residents paying towards RUBS utility sharing. New on-site community laundry room with 2 washers/2 dryers (machines are owned). Ditch the car with a Walk Score of 91 “Walkers Paradise” and a bike score of 87 “Very Bikeable. Just 2.5 miles to the Pacific Ocean & the popular Hermosa and Manhattan Beaches. Close to public transportation, the 405, 110 and 91 Freeways, shopping, restaurants, coffee shops, parks, and award-winning Redondo Beach Schools. No City of Redondo Beach Rent Control, Subject only to California AB1482. Zip Code 90278 received an overall A+ Grade per Niche.com.

Property Features

  • Sale Price: $2,800,000
  • Area Size: 5,538 Sq. Ft.
  • Land Area: 6,800 Sq. Ft.
  • Year Built: 1955
  • Listing Date: 7/27/2023
  • Closing Date: 9/14/2023
  • Units: 9
  • Current NOI: $131,415

Lyon Stahl Investment Real Estate

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