Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

8

Building size

6,628 sqft

Lot size

8,991 sqft

Year built

1954

Stories

2

Status

Active

Days on market

8

MLS #

248313996

About this property

Rare eight-unit coastal income property in Riviera Village, half a block from the Esplanade and less than 0.1 mile to the sand. Five of the eight units enjoy ocean views. Four 2BD/1BA and four 1BD/1BA units averaging approximately 828 SF, on an approx. 9,000 SF lot with covered parking and on-site laundry. Unit 4, a two-bedroom, will be delivered vacant: renovate it to your own standard and lease at market, or occupy it yourself. Offered at a 4.12% cap rate and 15.67 GRM on current rents (vacant unit at market), with renovated rents supporting a 5.15% cap and 13.34 GRM. Most windows have been replaced, the electrical has been updated and the SB 721 balcony inspection is complete. No local rent control (AB 1482 only), and all tenancies are month-to-month. Steps to Riviera Village dining and shopping.

Location

106 Vista Del Mar

Redondo Beach, Los Angeles, CA, 90277