We are proud to present a 16-unit apartment opportunity in the highly desirable Redondo Beach! Offered for sale for the 1st time in almost 20 years, this property offers a unique opportunity to acquire a larger asset a block away from the beach! There is a ton of future potential with this property as it is in one of the best locations in all of the South Bay. Sitting on an oversized corner lot, the offering features a total of 16 apartment units. The unit mix is comprised of 12 one-bedroom/one-bathroom units and 4 two-bedroom one-bathroom units. The asset has been extremely well maintained and is the epitome of a pride of ownership property. With current rental rates below market value, there is significant potential for value add through strategic renovations and future rent increases. The property is currently operating at a 3.09% cap rate and a proforma caprate of 4.84%.
Extra Information for 628 S Catalina Ave Redondo Beach, CA
- Seller Type:
- Category: Single-Family Houses
- Amenities: Parking,Pool
- Listed Date: Jul 20, 2024
