The subject property is a 4 unit apartment complex in a Prime area of South Redondo Beach on a quiet cul-de-sac just 1 mile from the beach! The property has been in the same family for 45 years and has been well maintained. The rents are significantly below market, with 25-40% upside in rental income on all units. There is immediate upside of 6% on each unit as the seller only gave tenants a 3% increase as of May 1, 2023 and all tenants are on a month-to-month tenancy.
The front unit is a large 3-bedroom 2-bath Townhome style unit with an attached 2 car garage. The remaining units are 2-bedroom 1.75-bath units with shared garages, and there are open parking spaces for 2 vehicles.
The building is all electric, and the units are separately metered, so that the tenants pay their own electric utilities. There is a laundry room on site that is on a lease with WEB. Each unit has a patio or balcony and there is a common area in back for tenants to BBQ. The building features pitched roofs, copper plumbing and high quality Milgard brand windows have been installed in place of the original windows.
This is a great opportunity for an investor or someone who wants to occupy a unit at some time in the future.
- Fireplace:
- Outside
- Roof Deck
- Parking:
- 20.00
- New Construction YN:
- 0
- Utilities:
- Phone Available, Cable Available, Electricity Connected, Underground Utilities, Water Available, Sewer Available
- Laundry:
- Upper Level, Gas & Electric Dryer Hookup
- Parking:
- Tandem Covered
- Sewer:
- Conventional Septic
- Room Type:
- Living Room, Laundry, Primary Bathroom, Primary Bedroom
- Common Walls:
- 2+ Common Walls
- Senior Community:
- 0
- List Agent Agent ID:
- SLAMPSTE
- Water Source:
- Public
- Lot Features:
- Front Yard, Cul-de-sac, Landscaped, Lot 6500-9999
- Community Features:
- Sidewalks, Curbs
- Stories:
- 2
- Entry Level:
- 1
- Entry Location
- Property Condition:
- Turnkey, Updated/remodeled
- Spa:
- 0
- Street:
- Opal
- Street Number:
- 1104
- Street Suffix:
- Street
- Zip4:
- 3919
- Floor Number:
- 0
- Longitude:
- W119° 37' 27''
- Latitude:
- N33° 50' 12.4''
- Listing Courtesy of:
- Re/Max Commercial & Investment
- TaxAnnualAmount:
- $0
- Garage Spaces:
- 6
- Zoning:
- RBRMD
- Lot Size Square Feet:
- 7,210 Sqft
- List Agent Last Name:
- Lampe
- List Agent License Number:
- 01164364
- Special Listing Conditions:
- Standard
- List Office ID:
- s1158
- List Agent First Name:
- Stephen
- Directions:
- Just south of Torrance Blvd | east of Prospect Ave
- MLSAreaMajor:
- 156 - S Redondo Bch S of Torrance Bl
- Levels:
- Two
- Parcel Number:
- 7506023073
- List Agent License Number:
- 01508014
- TaxAnnualAmount:
- $0
- TaxYear:
- 0
Residential Income Sold
1104 Opal Street, Redondo Beach, California 90277
- Property Type :
- Residential Income
- Listing Type :
- Sold
- Listing ID :
- SB23101204
- List Price :
- $2,300,000
- Year Built :
- 1965
- Lot Area :
- 0.17 Sqft
- Country:
- US
- State:
- CA
- County:
- Los Angeles
- City:
- Redondo Beach
- Zipcode:
- 90277
- Close Price :
- $2,265,000
- Status :
- Closed
- Property Type :
- Apartment
- Price Per Square Foot :
- $491
- Days on Market :
- 56
