2701 Curtis Ave, Redondo Beach, CA 90278
8 Unit Apartment Building | $2,795,000 ($349,375/Unit) | 4.36% Cap Rate | Redondo Beach, CA 90278
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $2,795,000
- Property Type
-
Multifamily
- Square Feet
- 5,090 SF
Listing Contacts
Brett Lyon
Verified Profile
Woody Stahl
Verified Profile
Duncan Backus
Verified Profile
- Property Info
Property Overview
Discover this well-maintained 8-unit property located in North Redondo. Situated on a spacious 7,504 SF lot, this property offers a total of 5,090 SF of living space, with a mix of (2) 2-bed/1-bath units and (6) 1-bed/1-bath units. Priced at an attractive $349,375 per unit, the property boasts a strong income with a 4.36% CAP rate and a 14.80 GRM on current rents. It also has very strong upside potential with 25% rental upside and a market cap of 5.82%. Altogether, this is an excellent investment opportunity in a desirable, beach city location, perfect for those looking to capitalize on the steady rental market in this sought-after area w/ long term appreciation potential.
Property Details
- Class
- C
- Year Built
- 1964
- Stories
- 2
- Lot Size (sq. ft)
- 7,405 SF
- Units
- 8
Highlights
- Well-Maintained 8-Unit in North Redondo
- Strong Unit Mix: (2) 2-Bed/1-Bath Units, (6) 1-Bed/1-Bath Units
- 4.36% CAP | 14.80 GRM
- 25% Rental Upside | 5.82% Market Cap | 11.85 Market GRM
- 5,090 Total SF On a Large 7,504 SF Lot
- Good Location in North Redondo, Appx 10 Minutes to the Manhattan Beach Pier + Redondo Performing Arts Center
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