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$7,950,000
Est. payment /mo
0.34 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25228698
HOA Y/N No
Year Built 1951
Lot Size 0.345 Acres
Property Sub-Type Apartment
Property Description
This exceptional 11-unit apartment building is being offered for the first time in over 30 years and is located just one minute from the ocean in one of Southern California's most prestigious and highly sought-after beach communities. The property features a balanced unit mix of 5 two-bedroom/one-bath units, 5 one-bedroom/one-bath units, and 1 studio unit, with all units occupied except the studio, ensuring strong and stable tenancy. Investors will appreciate 10 attached garage spaces with alley access, individually metered utilities for each unit, and the absence of city rent control, providing both efficiency and flexibility in operations. With a pro forma cap rate of approximately 3% and an unbeatable location that ensures consistent long-term demand, this asset presents a once-in-a-lifetime opportunity to acquire a generational trophy property in one of Southern California's best-performing coastal markets.
Location
State CA
County Los Angeles
Area 157 - S Redondo Bch W Of Pch
Interior
Fireplace No
Laundry See Remarks
Exterior
Parking Features Garage Faces Rear
Garage Spaces 10.0
Garage Description 10.0
Pool None
Community Features Curbs
Total Parking Spaces 10
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7511008004
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Listed by Joseph Nuzzolo Thompson Team Real Estate, Inc. 310-922-2229
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