Est. cap rate

2.2%

Assumed rent, all units

$11,120/mo

Units

4

Price per unit

$761,250

Est. annual NOI

$66,720

Expense assumption

50%

Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.

Run your own numbers

Adjust the assumptions to see cash flow and cash on cash return.

Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.

Property details

Type

Quadruplex

Bedrooms

4

Building size

5,302 sqft

Lot size

7,493 sqft

Year built

1972

Stories

2

Garage spaces

6

Pool

None

Status

Active

Days on market

48

MLS #

245892623

About this property

Marcus & Millichap is pleased to present the opportunity to acquire a turnkey fourplex in Redondo Beach, a coastal South Bay submarket with consistent rental demand and convenient access to beaches, retail, dining, and major freeways. The property has been extensively remodeled and offers a strong unit mix consisting of one four-bedroom/three-bathroom unit, two two-bedroom/two-bathroom units, and one two-bedroom/one-bathroom unit. Current rents provide approximately nine percent rental upside, offering investors an opportunity to increase income through future lease turnover. 2118 Carnegie Lane features completely remodeled interiors with vinyl plank flooring, quartz countertops, stainless steel appliances, updated cabinetry, modern fixtures, and stacking laundry units. The property also boasts rooftop decks, garages with EV charging capability, storage, security features, a new roof, repaved driveway, and more. This offering presents an opportunity to acquire a pride-of-ownership asset in a highly desirable coastal rental market.

Location

2118 Carnegie

Redondo Beach, Los Angeles, CA, 90278