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Bobby Kelley

bobbykelley@compass.com +1(650) 885-8383

Listed by William Mulkey, DRE #00986020 • TR Wealth Management Inc.

$ 7,300,000

Est. payment | -/mo

7,954 Sqft Lot

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$ 7,300,000

Est. payment | -/mo

Save

7,954 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRSB26088593

Year Built 1958

Lot Size 7,954 Sqft

Source California Regional MLS

Property Description

TR WEALTH MANAGEMENT, INC. is pleased to present a rare opportunity to acquire a 10-unit trophy multifamily asset located in the South Redondo Beach / Hollywood Riviera submarket. The addresses are 124-128 Palos Verdes Blvd totaling 9,914 sf with similar floor plans and ocean views. The property is two separate APN (Parcels) with 5 units each forming a central courtyard. Perched in a premier coastal setting, this asset has ocean and sunset views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces. A desirable unit mix of 9 large 2-bedrooms, 1 bathroom & 1 2-bedroom, 2 baths units offering 975 rentable area and spacious & functional layouts makes tenants want to reside here. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements delivers a turnkey investment with minimal deferred maintenance. The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot water he

Location

State CA

County Los Angeles

Area 699 - Not Defined

Rooms

Kitchen Dishwasher, Hood Over Range, Other, Pantry, Exhaust Fan, Oven Range, Oven - Gas, Oven - Electric

Interior

Heating Floor Furnace , Wall Furnace

Cooling None

Laundry Washer/Dryer - Owned, Stacked Only

Exterior

Parking Features Garage

Garage Spaces 20.0

Pool None

View Ocean, Other, Water, City Lights

Roof Type Shingle,Composition

Building

Story Split Level

Foundation Raised

Water District - Public

Others

Tax ID 7514001005

Special Listing Condition Not Applicable

Nearby Locations

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

+1(650) 885-8383

bobbykelley@compass.com

891 Beach St, San Francisco, CA, 94109, USA

124 Palos Verdes BLD Redondo Beach, CA 90277

Bobby Kelley

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby Locations

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124 Palos Verdes BLD