This six-unit apartment building, located in the highly desirable South Redondo Beach (west of PCH and near the coast), presents a compelling investment opportunity. The property is deemed historic (designated landmark). Offered at an attractive $382,500 per unit, the property boasts a solid 5.02% current cap rate and a 13.96 GRM. With three units to be delivered vacant, new ownership has an immediate opportunity for owner-occupancy or to renovate and achieve market rents, driving the pro-forma cap rate to an impressive 6.03%. The diverse unit mix, coupled with a substantial 7,608-SF lot and the absence of local rent control (defaulting to AB 1482), further enhance the value-add potential of this generational asset in a prime coastal location.
- Parking:
- 8.00
- New Construction YN:
- 0
- Parking:
- Garage - Single Door, Garage - Two Door, Street
- Common Walls:
- 1 Common Wall
- Senior Community:
- 0
- List Agent Agent ID:
- CLW-C122805
- Stories:
- 2
- Association:
- 0
- Street:
- Broadway
- Street Number:
- 108
- Zip4:
- 3152
- Floor Number:
- 0
- Longitude:
- W119° 36' 47.4''
- Latitude:
- N33° 50' 32.9''
- Street Dir Prefix:
- N
- Listing Courtesy of:
- Shield CRE, Inc.
- TaxAnnualAmount:
- $0
- Zoning:
- RBR-3A
- Lot Size Square Feet:
- 7,608 Sqft
- List Agent Last Name:
- Jacoli
- List Agent License Number:
- 01938297
- Special Listing Conditions:
- Standard
- List Office ID:
- CLW-X82383
- List Agent First Name:
- Gianluca
- Directions:
- West of PCH, North of Emerald Street, South of Diamond Street, East of Catalina Avenue
- MLSAreaMajor:
- 157 - S Redondo Bch W of PCH
- Levels:
- Two
- Parcel Number:
- 7505007021
- List Agent License Number:
- 02081496
- TaxAnnualAmount:
- $0
- TaxYear:
- 0
Residential Income Sold
108 Broadway, Redondo Beach, California 90277
- Property Type :
- Residential Income
- Listing Type :
- Sold
- Listing ID :
- 25539699
- List Price :
- $2,295,000
- Year Built :
- 1906
- Lot Area :
- 0.17 Sqft
- Country:
- US
- State:
- CA
- County:
- Los Angeles
- City:
- Redondo Beach
- Zipcode:
- 90277
- Close Price :
- $2,015,000
- Status :
- Closed
- Price Per Square Foot :
- $463
- Days on Market :
- 13
