348 Paseo De La Playa, Redondo Beach, CA 90277

$10,000,000
16
BD
16
BA
7,943
SqFt
List Price
$10,000,000
Status
ACTIVE
MLS#
22211649
Year Built
1960
Bedrooms
16
Bathrooms
16
Living Sq. Ft
7,943
Lot Size
10,160
Acres
0.23
Days on Market
33
Property Type
Multifamily

Property Description

We are proud to present a once in a lifetime opportunity to acquire an 8-unit oceanfront apartment community located in the affluent city of South Redondo Beach. The Villa de la Playa is 1 of 8 apartment buildings on the street and has been meticulously maintained by current ownership. The property has undergone extensive capital improvement over the past 7 years including anew roof, copper plumbing, refurbished garage doors, solar panels, vinyl windows, three (3) newer water heaters and new decks/railings throughout the building. All unit interiors have been renovated including granite/quartz countertops, new or refinished kitchen cabinets, new appliances, LVP flooring, and new vanities and tile bathrooms. The offering is composed of 1 one-bedroom/one bathroom unit, 5 two-bedroom/two-bathroom units, 1 XL two-bedroom/two-bathroom owner's unit and 1three-bedroom/three-bathroom unit. The three bedroom unit has potential to be split into two separate units as the unit features two entrances and two kitchens. The property is not subject to a local rent control (subject to AB 1482) allowing for 10% rent increases in year 1. The property is in the hottest market in the South Bay walking distance to the Riviera Village which features some of the best restaurants and retail in all of the South Bay. This investment presents a very attractive opportunity to own a turnkey asset on one of the most desirable streets in all of the South Bay.

Additional Information

Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer
Pool Description
None
Heat
Central, Wall Furnace
Cooling Description
None
Patio
Deck, Open, Patio
Interior Features
Ceiling Fan(s)
Attached Structure
Detached
Number Of Units Total
8

Listing courtesy of Listing Agent: John Katnik (john@brcadvisors.com) from Listing Office: BRC Advisors- BH.

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . 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, 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.