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Listed by William Mulkey, DRE #00986020 • TR Wealth Management Inc.
$ 7,300,000
Est. payment /mo
Price Dropped by $200K
124 Palos Verdes BLD Redondo Beach, CA 90277
7,954 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSB26088593
Year Built 1958
Lot Size 7,954 Sqft
Source California Regional MLS
Property Description
TR WEALTH MANAGEMENT, INC. is pleased to present a rare opportunity to acquire a 10-unit trophy multifamily asset located in the South Redondo Beach / Hollywood Riviera submarket. The addresses are 124-128 Palos Verdes Blvd totaling 9,914 sf with similar floor plans and ocean views. The property is two separate APN (Parcels) with 5 units each forming a central courtyard. Perched in a premier coastal setting, this asset has ocean and sunset views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces. A desirable unit mix of 9 large 2-bedrooms, 1 bathroom & 1 2-bedroom, 2 baths units offering 975 rentable area and spacious & functional layouts makes tenants want to reside here. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements delivers a turnkey investment with minimal deferred maintenance. The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot water he
Location
State CA
County Los Angeles
Area 699 - Not Defined
Rooms
Kitchen Dishwasher, Hood Over Range, Other, Pantry, Exhaust Fan, Oven Range, Oven - Gas, Oven - Electric
Interior
Heating Floor Furnace , Wall Furnace
Cooling None
Laundry Washer/Dryer - Owned, Stacked Only
Exterior
Parking Features Garage
Garage Spaces 20.0
Pool None
View Ocean, Other, Water, City Lights
Roof Type Shingle,Composition
Building
Story Split Level
Foundation Raised
Water District - Public
Others
Tax ID 7514001005
Special Listing Condition Not Applicable
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