2605 Gates is a 4,528-square foot, eight-unit apartment building located at 2605 Gates Avenue in Redondo Beach. The subject property, built in 1961, sits on a 7,499-square foot lot, and is two stories with wood frame and stucco construction. The property is situated only blocks from the proposed metro South Bay Green Line Extension and the $900 million revitalization of the South Bay Galleria. The subject property is comprised of (7) one-bedroom with one-bathroom units, and (1) two-bedroom with one-bathroom unit. The one-bedroom units average approximately 510 square feet and are located on the 2nd floor above the garages. The two-bedroom unit is approximately 600 square feet and located at the front of the property with a private yard. Generally, the units are in original condition but have been well maintained and selectively updated over time. Parking consists of 4 two-car garages. The property features new exterior paint and 5 new garage doors and openers. The building is separately metered for gas and electric. 2605 Gates will be delivered with 5 vacant units providing the investor a unique opportunity to renovate the vacant units and capitalize on the increasing demand for premium finishes in the rental market.
