Price Reduced by $50,000! Located in North Redondo Beach, 2320 Grant Avenue consists of (1) 2-Bedroom/1-Bathroom House and (4) 2-bedroom/1-bathroom units. The front house is completely detached from the rear units and contains a private front yard and its own washer/dryer hookups. Additionally, a rear private backyard is located behind the rear building providing private outdoor space for one of the 2-Bedroom/1-Bathroom units. The property sits on a 7,509-SF lot and features 5 garage spaces. The asset contains stable-in place rents yielding a 4.56% cap rate and 15.65 GRM. The property also has significant rental upside with a pro-forma cap rate of 5.95%. This is a perfect opportunity for an Owner-User or an investor looking to achieve higher rents. The property is NOT subject to Los Angeles City Rent Control and defaults to AB-1482 where an investor can raise rents up to 8.9% annually as of today.
Property Details
Price:
$2,500,000
MLS #:
24424955
Status:
Active
Baths:
0
Address:
2320 Grant Avenue
Type:
Residential Income
Neighborhood:
152nredondobchvillassouth
City:
Redondo Beach
Listed Date:
Aug 7, 2024
State:
CA
ZIP:
90278
Lot Size:
7,509 sqft / 0.17 acres (approx)
Year Built:
1951
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Schools
Interior
Exterior
Garage Spaces
5.00
Parking Features
Garage
Parking Spots
5.00
Stories Total
2
Financial
Map
Community
- Address2320 Grant Avenue Redondo Beach CA
- Area152 – N Redondo Bch/Villas South
- CityRedondo Beach
- CountyLos Angeles
- Zip Code90278
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Courtesy of Shield CRE, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
2320 Grant Avenue
Redondo Beach, CA
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