214 S Broadway
Redondo Beach, CA 90277
Active for $3,200,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 7,537 sqft
| MLS | PV24197358 |
| Year Built | 1921 |
| Property Type | Mixed Use |
| County | Los Angeles |
| Status | Active |
| Active | $3,200,000 |
| Structure Size | N/A sqft |
| Lot Size | 7,537 sqft |
| Beds | N/A |
| Baths | N/A |
Description
Prime South Redondo Beach Location just blocks from the Redondo Beach Pier and Harbor. This 7,534 sq ft property sits West of Pacific Coast Highway offering 4 - 1 bedroom 1 bathroom units in the front building and 2 - 1 bedroom 1 bathroom free standing cottages. There is tremendous upside potential with rent increases to market rents as well as potential for an ADU. The property also offers 4 single car garages. Owner has completed upgrades including a new roof installation which is in process. Current CAP rate of 3.4% with $157,740 Gross annual income. Huge upside with Pro forma income of $200,520 would bring the CAP rate to 4.7%. Great opportunity to own a prime location building with huge future upside.
Listing information courtesy of: Keith Kelley, Palm Realty Boutique . *Based on information from the Association of REALTORS/Multiple Listing as of 11/12/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Paul Sutton
REALTOR®
Direct: 310.418.7850
Email: Email Me
DRE: 02140631
DRE #01873088
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