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$8,250,000

Est. payment - /mo

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38 BD

30 BA

19,944 SqFt

Pending

906 Torrance BLVD Redondo Beach, CA 90277

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

09/30/2024 06:16 PM

Key Details

Property Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 19,944 sqft

Price per Sqft $413

MLS Listing ID 24437465

Bedrooms 38

HOA Y/N No

Year Built 1962

Lot Size 0.468 Acres

Property Description

This 26 Unit Property presents an opportunity to add value to a very desirable asset in a Premium location. The 906 Redondo Apts. is located in one of Southern California's most sought-after areas, Redondo Beach. It's about a mile from Redondo Pier/Fisherman's Wharf, and the Pacific Ocean. This is a mecca for weekend tourists with over 50 options for dining, shopping, and water activities. The charming Flatiron style building built in the 60's, sits on a robust commercial corner, but offers the tenants parking access off a quiet cul-de-sac. The unit mix is ideal with (2) 3 BR's; (7) 2BR's and (17) 1BR's. There are 24 covered parking spaces plus (3) garages. The front entrance features a lush garden with a tropical theme and a stairwell to the secure gate. That entry leads to an open courtyard with a heated pool, and lounge area for tenants. The property has been professionally managed for years and offers immediate and attainable upside of 27%. The city of Redondo Beach is subject only to state rent control (AB1482) and rents can be raised annually by 5% plus CPI.

Location

State CA

County Los Angeles

Area 156 - S Redondo Bch S Of Torrance Bl

Zoning RBC-2

Interior

Interior Features Ceiling Fan(s)

Heating Natural Gas

Cooling None

Fireplace No

Appliance Dishwasher, Disposal

Exterior

Garage Assigned, Garage

Garage Spaces 3.0

Garage Description 3.0

Community Features Gated

Parking Type Assigned, Garage

Total Parking Spaces 27

Building

Faces North

Story 1

Entry Level Two

Architectural Style Mid-Century Modern

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7506022056

Security Features Gated Community,Resident Manager

Special Listing Condition Standard

Listed by Keith Moret • Lyon Stahl Investment Real Estate, Inc.

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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