Active

628 S Catalina Avenue

Redondo Beach CA, 90277

$9,000,000


$828.12 per sqft

Active

20 Beds

16 Baths

10,868 sqft

Residential

Built in 1957

Listed by John Katnik with BRC Advisors- BH

We are proud to present a 16-unit apartment opportunity in the highly desirable Redondo Beach! Offered for sale for the 1st time in almost 20 years, this property offers a unique opportunity to acquire a larger asset a block away from the beach! There is a ton of future potential with this property as it is in one of the best locations in all of the South Bay. Sitting on an oversized corner lot, the offering features a total of 16 apartment units. The unit mix is comprised of 12 one-bedroom/one-bathroom units and 4 two-bedroom one-bathroom units. The asset has been extremely well maintained and is the epitome of a pride of ownership property. With current rental rates below market value, there is significant potential for value add through strategic renovations and future rent increases. The property is currently operating at a 3.09% cap rate and a proforma caprate of 4.84%. Adding to the property's allure is the presence of 14 covered carport parking and 2 garage spaces, which could provide an additional revenue stream if converted into ADUs (Buyer to confirm). Tenants can also enjoy a beautiful swimming pool and on-site laundry, allowing a new owner to maximize future rents. The property is less than a mile from the popular Riviera Village, which features the best restaurants and retail in Redondo Beach. This investment presents a very attractive opportunity to own a sizable asset in the highly desirable city Redondo Beach.

24397985

MLS ID

June 11, 2024

Listed

July 18, 2024

Updated

Map

628 S Catalina Avenue
Redondo Beach CA, 90277

Interior Features

Total Stories

2


Bedrooms

20


Total Bathrooms

16


Laundry Description

Common Area


Fireplace

No


Cooling

No


Cooling Description

None


Heating

No

Exterior/Building Features

Lot Size

0.33 Acres

Other Property Details

Area Name

157 - S Redondo Bch W of PCH


Days on Market

42


Garage

Yes


Garage Spaces

2


Parking

Attached Carport, Detached Carport, Garage


Parking Total

16


View

No


County

Los Angeles


Pool

No


Pool Features

Community, Lap


Zoning

RBR-3A

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 7/18/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 7/18/2024 at 6:17 PM UTC

 

Powered byLuxury Presence