2320 Grant Avenue

    Redondo Beach, CA 90278
    • $2,299,000
    • STATUS: Active
    • ON SITE: 72 days
    • ID#: SB19137448
    UPDATED: 56 min ago
    $2,299,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,410
      SQFT
    • $521
      $/SQFT
    Type:
    Multi-Family
    Built:
    1951
    County:

    School Ratings & Info

    Description

    This is an excellent investment opportunity in the heart of North Redondo Beach, consisting of five 2 BR 1 Ba units that have all been meticulously remodeled and maintained. This long term owner has kept rents EXTREMELY low. The front house is stand along with a front porch and private fenced front yard. The back building incorporates 4 units built more recently with a lower level unit that has a nicely landscaped, private, rear yard. The other three units are all upstairs over the five car garage. These units are very bright and airy, and should easily rent at the proforma numbers shown. Across the street from the Perry Park playing fields, and conveniently located just minutes from the 405 freeway, shopping, and the some of the most beautiful beaches on the planet.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-08-24T07:33:54.033. 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 deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.
    www.sellinglasouthbay.com/homes/95841887

    2320 Grant Avenue Redondo Beach, CA 90278

    • Price: $2,299,000
    • Status: Active
    • Updated: 56 min ago
    • ID#: SB19137448
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    4,410
    SQFT
    $521
    $/SQFT
    1951
    Built
    Neighborhood:
    152 - N Redondo Bch/Villas South
    County:
    Los Angeles
    Area:
    152 - N Redondo Bch/Villas South
    Property Description
    This is an excellent investment opportunity in the heart of North Redondo Beach, consisting of five 2 BR 1 Ba units that have all been meticulously remodeled and maintained. This long term owner has kept rents EXTREMELY low. The front house is stand along with a front porch and private fenced front yard. The back building incorporates 4 units built more recently with a lower level unit that has a nicely landscaped, private, rear yard. The other three units are all upstairs over the five car garage. These units are very bright and airy, and should easily rent at the proforma numbers shown. Across the street from the Perry Park playing fields, and conveniently located just minutes from the 405 freeway, shopping, and the some of the most beautiful beaches on the planet.
    Exterior Features

    Architectural Style Bungalow Construction Materials Stucco Foundation Details RaisedSlab Garage Spaces 5.00 Lot Features Back YardFront YardLot 6500-9999Rectangular LotNear Public TransitPark Nearby Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 5.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Roof Composition View None View YN No

    Interior Features

    Appliances Built-In RangeDishwasherRefrigerator Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 882 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring Laminate Heating Wall FurnaceNatural Gas Heating YN Yes Interior Features Built-In FeaturesCeiling Fan(S)Granite CountersRecessed Lighting Laundry Features CommunityInside

    Property Features

    Accessibility Features None Additional Parcels YN No Building Area Units Square Feet Cap Rate 4.88 Community Features CurbsPark Country Us Electric Expense 678.00 Elevation Units Feet Garage Income 0.00 Garage Rental Rate 0.00 Gardener Expense 720.00 Gross Income 13800.00 Gross Multiplier 13.89 Gross Operating Income 162288.00 Gross Scheduled Income 165600.00 Gross Spendable Income 22722.00 Insurance Expense 2760.00 Land Lease YN No Laundry Equipment Own Lease Lease Laundry Income 50.00 Laundry YN Yes Maintenance Expense 8280.00 Maintenance Percent 5.00 Net Operating Income 112223.00 New Construction YN No New Taxes Expense 27140.00 Number Of Separate Electric Meters 5 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Number Of Units Leased 5 Number With Dishwasher 5 Number With Disposal 5 Number With Drapes 5 Number With Patio 2 Number With Range 5 Number With Refrigerator 5 Operating Expense 50065.00 Operating Expense Percent 30.00 Professional Management Expense 6624.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Actual Rent 10375.00 Total Expenses 50065.00 Trash Expense 1193.00 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 3312 Vacancy Allowance Rate 2.00 Water Sewer Expense 2070.00 Water Source Public Year Built Source Assessor Zoning Rbr-3

    Listing provided courtesy of Robert Freedman of Re/Max Estate Properties and Greg Geilman of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-08-24T07:33:54.033. 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 deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.
     
    Keller Williams Realty, LA Harbor
    28901 S. Western Avenue #139
    Rancho Palos Verdes CA, 90731