$3,200,000
214 S Broadway
Redondo Beach, CA, 90277
Property 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.
Property Details
Price:
$3,200,000
MLS #:
PV24197358
Status:
Active
Baths:
0
Address:
214 S Broadway
Type:
Residential Income
Subtype:
Commercial/Residential
Neighborhood:
157sredondobchwofpch
City:
Redondo Beach
Listed Date:
Sep 23, 2024
State:
CA
ZIP:
90277
Lot Size:
7,537 sqft / 0.17 acres (approx)
Year Built:
1921
Schools
Interior
Exterior
Community Features
Sidewalks
Garage Spaces
4.00
Lot Features
Level with Street
Parking Spots
4.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
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Courtesy of Palm Realty Boutique. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Mohr Real Estate Group include the name of the listing broker. Neither the listing company nor Mohr Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved. 214 S Broadway
Redondo Beach, CA
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