This 26 Unit Property presents an opportunity to add value to a very desirable asset in a Premium location. The 906 Redondo Apts. is located in one of Southern California’s most sought-after areas, Redondo Beach. It’s about a mile from Redondo Pier/Fisherman’s Wharf, and the Pacific Ocean. This is a mecca for weekend tourists with over 50 options for dining, shopping, and water activities. The charming Flatiron style building built in the 60’s, sits on a robust commercial corner, but offers the tenants parking access off a quiet cul-de-sac. The unit mix is ideal with (2) 3 BR’s; (7) 2BR’s and (17) 1BR’s. There are 24 covered parking spaces plus (3) garages. The front entrance features a lush garden with a tropical theme and a stairwell to the secure gate. That entry leads to an open courtyard with a heated pool, and lounge area for tenants. The property has been professionally managed for years and offers immediate and attainable upside of 27%. The city of Redondo Beach is subject only to state rent control (AB1482) and rents can be raised annually by 5% plus CPI.
Property Details
Price:
$8,250,000
MLS #:
24437465
Status:
Pending
Baths:
0
Address:
906 Torrance Boulevard
Type:
Residential Income
Neighborhood:
156sredondobchsoftorrancebl
City:
Redondo Beach
Listed Date:
Sep 8, 2024
State:
CA
ZIP:
90277
Lot Size:
20,390 sqft / 0.47 acres (approx)
Year Built:
1962
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Schools
Interior
Appliances
Dishwasher, Disposal
Cooling
None
Heating
Natural Gas
Interior Features
Ceiling Fan(s)
Exterior
Garage Spaces
3.00
Parking Features
Assigned, Garage
Parking Spots
27.00
Security Features
Resident Manager, Gated Community
Stories Total
1
Financial
Tenant Pays
Gas, Electricity, Cable T V
Map
Community
- Address906 Torrance Boulevard Redondo Beach CA
- Area156 – S Redondo Bch S of Torrance Bl
- CityRedondo Beach
- CountyLos Angeles
- Zip Code90277
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Courtesy of Lyon Stahl Investment Real Estate, 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.
906 Torrance Boulevard
Redondo Beach, CA
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