1505 S Catalina, Redondo Beach, CA 90277
- $7,195,000
- List Price
- $7,195,000
- Price Change
- ▼ $755,000 1773373029
- Status
- ACTIVE
- MLS#
- SB25228698
- Year Built
- 1951
- Lot Size
- 15,028
- Acres
- 0.35
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 302
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
Property Description
This exceptional 11-unit apartment building is being offered for the first time in over 30 years and is located just one minute from the ocean in one of Southern California’s most prestigious and highly sought-after beach communities. The property features a balanced unit mix of 5 two-bedroom/one-bath units, 5 one-bedroom/one-bath units, and 1 studio unit, with all units occupied except the studio, ensuring strong and stable tenancy. Investors will appreciate 10 attached garage spaces with alley access, individually metered utilities for each unit, and the absence of city rent control, providing both efficiency and flexibility in operations. With a pro forma cap rate of approximately 3% and an unbeatable location that ensures consistent long-term demand, this asset presents a once-in-a-lifetime opportunity to acquire a generational trophy property in one of Southern California’s best-performing coastal markets.
Additional Information
- Pool Description
- None
- Garage Spaces Total
- 10
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 11
- Gross Scheduled Income
- $309,900
- Operating Expense
- 46613
Listing courtesy of Listing Agent: Joseph Nuzzolo (joe@2buy.com) from Listing Office: Thompson Team Real Estate, Inc..
Mortgage Calculator
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