2320 Grant AVE Active

Redondo Beach,CA 90278

$ 2500000

10 Beds

5 Baths

4511 SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,511 sqft

Price per Sqft $554

MLS Listing ID 24424955

Bedrooms 10

Year Built 1951

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 152 - N Redondo Bch/Villas South

Zoning RBR-3

Exterior

Garage Garage

Garage Spaces 5.0

Garage Description 5.0

Building

Story 2

New Construction No

Others

Special Listing Condition Standard

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