The “Catalina View Townhomes” a meticulously maintained, value-added multifamily property, located on 910 S Catalina Ave., in South Redondo Beach CA, just steps from the Riviera Village; a trending South Bay community situated perfectly between Hermosa Beach and Palos Verdes.
The Riviera Village is a charming coastal paradise that is home to pristine beaches, an incredible oceanside boardwalk, and a burgeoning small downtown full of bustling eateries and bars, plentiful public parking, clean air, and nearly perfect weather.
The property has an ideal mix of four large (2 + 1.5) townhouse style units sharing a large south facing deck over the garages, a beautiful (3 + 2) owner’s unit with a private front yard, and a large penthouse suite with a giant private patio to enjoy the ocean view. The units are all in updated “rent ready” condition. However, premium renovations could move the potential rent beyond the projected pro-forma. The penthouse suite is technically tied to the owner’s unit, and if desired, using ADU guidelines, one can potentially formally separate the unit.
Catalina View Townhomes features several additional spaces that have monetization opportunity via ADU potential, integration into specific units, or via community amenity upgrades. In addition to the 5 garages, each with a private storage area, there is a garage sized storage area with a sink, cabinet, and separate entry. On the eastern side of the garage, a second large laundry and storage room bookend the enclosed garages.
This asset is virtually in “turn-key” condition and is professionally managed. However, given the current demand for coastal, ocean view rental units, significant rental upside exists and unlike most of the LA region, Redondo Beach has no local rent control restrictions.
Whether it be for its value-added opportunity, ease of operational ownership, or its spectacular location and security from downside risk, the Catalina View Townhomes is a “must look” for both local and core LA investors looking to build an investment portfolio with multifamily assets in this price range.
