525 N Francisca AVE, Redondo Beach, CA 90277
525 N Francisca AVE, Redondo Beach, CA 90277
525 N Francisca AVE, Redondo Beach, CA 90277
525 N Francisca AVE, Redondo Beach, CA 90277
525 N Francisca AVE, Redondo Beach, CA 90277
525 N Francisca AVE, Redondo Beach, CA 90277
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Scott Greenspan

Scott Greenspan

Greenspan Realty

+1(310) 936-7270
$ 6,100,000
Est. payment | /mo

24 Beds

24 Baths

12,192 SqFt

Save
$ 6,100,000
Est. payment | /mo
Save

24 Beds

24 Baths

12,192 SqFt

Key Details

Property Type Single Family Home

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 12,192 sqft

Price per Sqft $500

MLS Listing ID 26674141

Bedrooms 24

HOA Y/N No

Year Built 1964

Lot Size 0.261 Acres

Property Description

Located in South Redondo Beach, west of PCH, this exceptional coastal investment offers a rare opportunity to purchase a 12-unit apartment just blocks from the Redondo Beach Pier, King Harbor, and the Pacific Ocean. The property consists of (12) 2-bedroom/1.75-bathroom units with spacious layouts, including four renovated units delivered vacant, allowing an investor to immediately capture market rents and drive income growth. The asset features strong in-place financials with a 4.35% current cap rate and 14.71 GRM, along with a projected 5.30% pro-forma cap rate and 12.79 GRM. This 11,364-SF asset is situated on a large 11,364-SF lot, which presents an attractive opportunity to add ADUs and further enhance returns. Additional highlights include 12 garages and an on-site laundry facility which is able to generate additional income. Furthermore, the property is not subject to Los Angeles rent control and instead falls under AB 1482. With its prime coastal location, desirable unit mix with spacious layouts, rent current income and upside potential, and long-term appreciation, this offering represents a true generational asset in one of the South Bay's most desirable rental markets.

Location

State CA

County Los Angeles

Area 157 - S Redondo Bch W Of Pch

Zoning RBR-3A

Interior

Fireplace No

Appliance Washer

Laundry Laundry Room

Exterior

Parking Features Garage

Garage Spaces 12.0

Garage Description 12.0

Total Parking Spaces 12

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7503011032

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Gianluca Jacoli Shield CRE, Inc. #01938297

Nearby Locations

Greenspan Realty

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

 

Scott Greenspan

Broker Owner

+1(310) 363-0606

info@greenspanrealty.net

Rancho Palos Verdes, CA, 90275, USA

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525 N Francisca AVE