910 S Catalina Avenue, Redondo Beach, CA 90277

$4,000,000
Sold Price
$4,000,000
List Price
$4,200,000
Closing Date
Dec 10, 2022
Status
CLOSED
MLS#
SB22215682
Year Built
1963
Lot Size
7,467
Acres
0.17
Lot Location
Corner Lot
Days on Market
0
Property Type
Multifamily
Style
Mediterranean, Modern
Property Sub Type
Quadruplex
Stories
Two Levels

Property Description

The “Catalina View Townhomes” a meticulously maintained, value-added multifamily property, located on 910 S Catalina Ave., in South Redondo Beach CA, just steps from the Riviera Village; a trending South Bay community situated perfectly between Hermosa Beach and Palos Verdes. The Riviera Village is a charming coastal paradise that is home to pristine beaches, an incredible oceanside boardwalk, and a burgeoning small downtown full of bustling eateries and bars, plentiful public parking, clean air, and nearly perfect weather. The property has an ideal mix of four large (2 + 1.5) townhouse style units sharing a large south facing deck over the garages, a beautiful (3 + 2) owner’s unit with a private front yard, and a large penthouse suite with a giant private patio to enjoy the ocean view. The units are all in updated “rent ready” condition. However, premium renovations could move the potential rent beyond the projected pro-forma. The penthouse suite is technically tied to the owner’s unit, and if desired, using ADU guidelines, one can potentially formally separate the unit. Catalina View Townhomes features several additional spaces that have monetization opportunity via ADU potential, integration into specific units, or via community amenity upgrades. In addition to the 5 garages, each with a private storage area, there is a garage sized storage area with a sink, cabinet, and separate entry. On the eastern side of the garage, a second large laundry and storage room bookend the enclosed garages. This asset is virtually in “turn-key” condition and is professionally managed. However, given the current demand for coastal, ocean view rental units, significant rental upside exists and unlike most of the LA region, Redondo Beach has no local rent control restrictions. Whether it be for its value-added opportunity, ease of operational ownership, or its spectacular location and security from downside risk, the Catalina View Townhomes is a “must look” for both local and core LA investors looking to build an investment portfolio with multifamily assets in this price range.

Additional Information

Other Buildings
Storage
Appliances
Electric Cooktop, Electric Oven, Electric Range
Pool Description
None
Heat
Electric
View
Catalina, Ocean
Garage Spaces Total
5
Sewer
SewerTapPaid
Water
Public
Attached Structure
Attached
Number Of Units Total
5
Gross Scheduled Income
$192,420
Operating Expense
75501

Listing courtesy of Listing Agent: Scott Rosenberg (scott@rcre.co) from Listing Office: Kidder Mathews of California, Inc.

Listing sold by Karen Witteles from The Realestate Group

Mortgage Calculator

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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.