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214 South Broadway Redondo Beach, CA 90277
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Key Details
Sold Price $2,400,000
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Sold
Purchase Type For Sale
Square Footage 3,776 sqft
Price per Sqft $635
MLS Listing ID PV-24197358
Sold Date 01/29/25
Year Built 1921
Lot Size 7,537 Sqft
Property Sub-Type Commercial/Residential
Property Description
Prime South Redondo Beach Location just blocks from the Redondo Beach Pier and Harbor. This 7,534 sq ft property sits West of Pacific Coast Highway offering 4 - 1 bedroom 1 bathroom units in the front building and 2 - 1 bedroom 1 bathroom free standing cottages. There is tremendous upside potential with rent increases to market rents as well as potential for an ADU. The property also offers 4 single car garages. Owner has completed upgrades including a new roof installation which is in process. Current CAP rate of 3.4% with $157,740 Gross annual income. Huge upside with Pro forma income of $200,520 would bring the CAP rate to 4.7%. Great opportunity to own a prime location building with huge future upside.
Location
State CA
County Los Angeles
Zoning RBR-3A
Interior
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 4.0
Pool None
Community Features Sidewalks
Building
Lot Description Level with Street
Sewer Public Sewer
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