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2003 Gates Ave, Redondo Beach, CA 90278

$1,350,000

Description

 

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.

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.

Investment Highlights:

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

Property Downloads

Address

  • City: Redondo Beach
  • State/county: CA
  • Country: United States

Detail

Updated on November 5, 2019 at 11:54 pm

  • Price: $1,350,000
  • Property Size: 1,957 Sq Ft
  • Land Area: 7,499 Sq Ft
  • Year Built: 1947
  • Property Type: Multifamily
  • Property Status: Pending Sale, Active
  • Numbers of Units: 2
  • GRM: 30.82
  • CAP RATE: 1.68%
  • Price per Unit: $675,000
  • Market GRM: 23.44
  • Market CAP RATE: 2.70%

Contact info

Brett Lyon
Brett Lyon
(310) 880-5328(310) 780-1899
Linkedin
Woody Stahl
Woody Stahl
(310) 880-0926(310) 710-3829
Linkedin

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