2320 Grant Avenue

Description

Price Reduced by $50,000! Located in North Redondo Beach, 2320 Grant Avenue consists of (1) 2-Bedroom/1-Bathroom House and (4) 2-bedroom/1-bathroom units. The front house is completely detached from the rear units and contains a private front yard and its own washer/dryer hookups. Additionally, a rear private backyard is located behind the rear building providing private outdoor space for one of the 2-Bedroom/1-Bathroom units. The property sits on a 7,509-SF lot and features 5 garage spaces. The asset contains stable-in place rents yielding a 4.56% cap rate and 15.65 GRM. The property also has significant rental upside with a pro-forma cap rate of 5.95%. This is a perfect opportunity for an Owner-User or an investor looking to achieve higher rents. The property is NOT subject to Los Angeles City Rent Control and defaults to AB-1482 where an investor can raise rents up to 8.9% annually as of today.

Listing information courtesy of: Gianluca Jacoli, Shield CRE, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 09/20/2024 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.