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518 S Catalina AVE Redondo Beach, CA 90277
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Key Details
Sold Price $3,619,800
Property Type Residential Income
Listing Status Sold
Purchase Type For Sale
Square Footage 4,248 sqft
Price per Sqft $852
MLS Listing ID 25539701
Bedrooms 8
Year Built 1924
Lot Size 0.260 Acres
Property Description
This eight-unit apartment building offers an exceptional investment opportunity in a prime South Redondo Beach location, just a short 800 feet from the Pacific Ocean. Situated on a large 11,309-SF lot, the property features three fully remodeled units and six garages. Investors will appreciate the potential for an Accessory Dwelling Unit (ADU) to further enhance income. Residents can enjoy a common area courtyard and the convenience of being just blocks from Veterans Parks, the Redondo Beach Pier, and King Harbor. With a pro-forma cap rate of 4.84% and the benefit of no local rent control (defaulting to AB 1482), this generational asset presents significant value-add potential in a highly sought-after coastal market.
Location
State CA
County Los Angeles
Area 157 - S Redondo Bch W Of Pch
Zoning RBR-3A
Exterior
Parking Features Garage
Garage Spaces 6.0
Garage Description 6.0
Building
Story 1
New Construction No
Others
Special Listing Condition Standard
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Bought with Brendan Mahoney First Team Real Estate