124 Palos Verdes BLVD Redondo Beach, CA 90277
7,954 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26088593
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1958
Lot Size 7,954 Sqft
Property Sub-Type Apartment
Property Description
A desirable unit mix of 9 large 2-bedrooms, 1 bathroom & 1 2-bedroom, 2 baths units offering 975 rentable area and spacious & functional layouts makes tenants want to reside here. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements delivers a turnkey investment with minimal deferred maintenance.
The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot water heater in units. The asset is not subject to local rent control, providing investors with flexibility to capture future rent growth in a strong and stable rental market. AB1482 State Rent Control only.
Located just minutes from Riviera Village, tenants benefit from immediate access to premier dining, retail, and coastal amenities, as well as proximity to the Redondo Beach coastline, parks, and recreation. The property also offers convenient connectivity to Pacific Coast Highway and major South Bay employment centers, including Torrance, El Segundo, and the greater aerospace and technology corridor.
Positioned within a high-income coastal community characterized by limited multifamily supply and strong historical appreciation, this offering presents a unique opportunity to acquire an irreplaceable asset with both stable in-place cash flow and long-term upside. Additional value-add potential exists through the possible conversion of two garage spaces into accessory dwelling units (ADUs).
This is an ideal acquisition for investors seeking a high-quality, low-maintenance coastal asset in one of Southern California's most supply-constrained and desirable rental markets.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Interior Features Ceiling Fan(s), Crown Molding, Open Floorplan, Pantry, Recessed Lighting, Unfurnished
Heating Floor Furnace, Wall Furnace
Cooling None
Fireplaces Type Family Room
Fireplace Yes
Appliance Dishwasher, Electric Cooktop, Electric Oven, Free-Standing Range, Gas Oven, Gas Water Heater, Range Hood, Vented Exhaust Fan
Laundry Stacked
Exterior
Exterior Feature Lighting, Rain Gutters
Parking Features Garage, Tandem
Garage Spaces 10.0
Garage Description 10.0
Pool None
Community Features Street Lights, Sidewalks
Utilities Available Electricity Available, Natural Gas Available, Sewer Connected, Water Connected
View Y/N Yes
View Catalina, City Lights, Coastline, Water
Roof Type Composition,Shingle
Total Parking Spaces 20
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Multi/Split
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Multi/Split
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 7514001005
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Energy Description 382.0
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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