2320 Grant Ave Active Save Request In-Person Tour Request Virtual Tour
Redondo Beach,CA 90278
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,511 sqft
Price per Sqft $554
MLS Listing ID 24-424955
Bedrooms 10
Year Built 1951
Annual Tax Amount $27,500
Lot Size 7,509 Sqft
Property Description
Price Reduced by $50,000! Located in North Redondo Beach, 2320 Grant Avenue consists of (1) 2-Bedroom/1-Bathroom House and (4) 2-bedroom/1-bathroom units. The front house is completely detached from the rear units and contains a private front yard and its own washer/dryer hookups. Additionally, a rear private backyard is located behind the rear building providing private outdoor space for one of the 2-Bedroom/1-Bathroom units. The property sits on a 7,509-SF lot and features 5 garage spaces. The asset contains stable-in place rents yielding a 4.56% cap rate and 15.65 GRM. The property also has significant rental upside with a pro-forma cap rate of 5.95%. This is a perfect opportunity for an Owner-User or an investor looking to achieve higher rents. The property is NOT subject to Los Angeles City Rent Control and defaults to AB-1482 where an investor can raise rents up to 8.9% annually as of today.
Location
State CA
County Los Angeles
Area N. Redondo Beach/Villas South
Zoning RBR-3
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Other
Equipment Washer, Dryer
Exterior
Garage Garage
Garage Spaces 5.0
Building
Story 2
Others
Special Listing Condition Standard