$7,500,000
Est. payment /mo
8 Beds
4 Baths
7,954 Sqft Lot
New
124 Palos Verdes Boulevard Redondo Beach, CA 90277
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26088593
Bedrooms 8
Lot Size 7,954 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
TR WEALTH MANAGEMENT, INC. is pleased to present this rare opportunity to acquire a 10-unit trophy multifamily asset located in the highly desirable South Redondo Beach / Hollywood Riviera submarket. The property is two separate APN (Parcel) with 5 units each forming a central courtyard. The addresses are 124-128 Palos Verdes Blvd. Perched in a premier coastal setting, the property offers ocean views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces. The desirable unit mix of 9 large two-bedroom, one-bathroom & 1 2 bedroom 2 bathroom units averaging 975 square feet, providing spacious & functional layouts. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancementsdelivering 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
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Pacific coast hwy south to PV Blvd (Service Street) Elevated turn onto 124-128 PV Blvd
Interior
Heating Floor Furnace
Fireplace No
Exterior
View Y/N No
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7514001005
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by William Mulkey, DRE#00986020 TR Wealth Management Inc.
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