TR WEALTH MANAGEMENT, INC. is pleased to present a rare opportunity to acquire a 10-unit trophy multifamily asset located in the South Redondo Beach / Hollywood Riviera submarket. The addresses are 124-128 Palos Verdes Blvd totaling 9,914 sf with similar floor plans and ocean views. The property is two separate APN (Parcels) with 5 units each forming a central courtyard. Perched in a premier coastal setting, this asset has ocean and sunset views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces.
A desirable unit mix of 9 large 2-bedrooms, 1 bathroom & 1 2-bedroom, 2 baths units offering 975 rentable area and spacious & functional layouts makes tenants want to reside here. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements delivers a turnkey investment with minimal deferred maintenance.
The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot water heater in units. The asset is not subject to local rent control, providing investors with flexibility to capture future rent growth in a strong and stable rental market. AB1482 State Rent Control only.
Located just minutes from Riviera Village, tenants benefit from immediate access to premier dining, retail, and coastal amenities, as well as proximity to the Redondo Beach coastline, parks, and recreation. The property also offers convenient connectivity to Pacific Coast Highway and major South Bay employment centers, including Torrance, El Segundo, and the greater aerospace and technology corridor.
Positioned within a high-income coastal community characterized by limited multifamily supply and strong historical appreciation, this offering presents a unique opportunity to acquire an irreplaceable asset with both stable in-place cash flow and long-term upside. Additional value-add potential exists through the possible conversion of two garage spaces into accessory dwelling units (ADUs).
This is an ideal acquisition for investors seeking a high-quality, low-maintenance coastal asset in one of Southern California’s most supply-constrained and desirable rental markets.
- Pool:
- No
- Heating System:
- Wall Furnace, Floor Furnace
- Cooling System:
- No
- View:
- City Lights, Water, Coastline, Catalina
- Fireplace:
- Family Room
- Security:
- Carbon monoxide detector(s), Smoke Detector(s)
- Roof Deck:
- Shingle, Composition
- Parking:
- 20.00
- New Construction YN:
- 0
- Utilities:
- Sewer Connected, Water Connected, Electricity Available, Natural Gas Available
- Laundry:
- Stackable
- Parking:
- Garage, Tandem Garage
- Sewer:
- Public Sewer
- Common Walls:
- 2+ Common Walls
- Senior Community:
- 0
- List Agent Agent ID:
- SMULKWIL
- Water Source:
- Public
- Lot Features:
- 0-1 Unit/acre
- Window Features:
- Double Pane Windows, Energy Star Qualified Windows
- Community Features:
- Sidewalks, Street Lights
- Stories:
- 2
- Entry Level:
- 1
- Association:
- 0
- Entry Location:
- PV Blvd
- Property Condition:
- Updated/remodeled
- Foundation Details:
- Raised
- Exterior Features:
- Lighting, Rain Gutters
- Appliances:
- Dishwasher, Gas Water Heater, Vented Exhaust Fan, Free-Standing Range, Range Hood, Electric Oven, Gas Oven, Electric Cooktop
- Interior Features:
- Crown Molding, Open Floorplan, Pantry, Recessed Lighting, Ceiling Fan(s), Copper Plumbing Partial, Unfurnished
- Street:
- Palos Verdes
- Street Number:
- 124
- Street Suffix:
- Boulevard
- Floor Number:
- 0
- Longitude:
- W119° 36' 58.7''
- Latitude:
- N33° 49' 2.2''
- Listing Courtesy of:
- TR Wealth Management Inc.
- TaxAnnualAmount:
- $0
- Garage Spaces:
- 10
- Lot Size Square Feet:
- 7,954 Sqft
- List Agent Last Name:
- Mulkey
- List Agent License Number:
- 00986020
- Special Listing Conditions:
- Standard
- List Office ID:
- S1078
- List Agent First Name:
- William
- Directions:
- Pacific coast hwy south to PV Blvd (Service Street) Elevated turn onto 124-128 PV Blvd
- MLSAreaMajor:
- 699 - Not Defined
- Levels:
- Multi/Split
- Parcel Number:
- 7514001005
- List Agent License Number:
- 01914040
- TaxAnnualAmount:
- $0
- TaxYear:
- 0
Residential Income For Sale
124 Palos Verdes Boulevard, Redondo Beach, California 90277
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Listing ID :
- SB26088593
- List Price :
- $7,300,000
- Year Built :
- 1958
- Lot Area :
- 0.18 Sqft
- Country:
- US
- State:
- CA
- County:
- Los Angeles
- City:
- Redondo Beach
- Zipcode:
- 90277
- Status :
- Active
- Property Type :
- Apartment
- Price Per Square Foot :
- $736
- Days on Market :
- 36
