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$ 1,650,000
Est. payment | /mo
4 Beds
5 Baths
2,669 SqFt
$ 1,650,000
Est. payment | /mo
4 Beds
5 Baths
2,669 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,669 sqft
Price per Sqft $618
MLS Listing ID 26854135
Bedrooms 4
HOA Y/N No
Year Built 1912
Lot Size 5,723 Sqft
Property Description
319 N. Gertruda Avenue presents a compelling opportunity to acquire a charming multifamily asset in the heart of South Redondo Beach. Ideally situated within a few blocks of the Redondo Beach Pier, King Harbor, and the Pacific Ocean, the property offers tenants an exceptional coastal lifestyle with convenient access to the beach, Riviera Village, Pacific Coast Highway, local cafs, restaurants, and everyday amenities. Positioned on a sizable 5,724-SF lot, the property is comprised of (4) 1-bedroom/1-bathroom units and a detached studio/1-bathroom unit that will be delivered vacant. The character-rich residences feature hardwood floors, crown molding, and classic architectural details that contribute to the property's timeless appeal.From an investment perspective, the asset offers strong in-place income with meaningful rental upside, featuring a 5.24% current cap rate and 13.78 GRM with the potential to achieve a 6.09% pro-forma cap rate and 12.22 GRM. The property is enrolled in the Mills Act program, providing significant property tax savings that enhance cash flow and long-term returns, and is not subject to local rent control, defaulting instead to AB 1482. Priced at only $330,000 per unit, the offering presents exceptional intrinsic value along with potential opportunity to add ADU(s), subject to buyer verification of zoning, feasibility, and permitting requirements.
Location
State CA
County Los Angeles
Area 155 - S Redondo Bch N Of Torrance Bl
Zoning RBR-3
Interior
Fireplace No
Exterior
Parking Features Assigned, Uncovered
Building
Story 2
Entry Level One,Two
Level or Stories One, Two
New Construction No
Others
Senior Community No
Tax ID 7503027010
Special Listing Condition Standard
Listed by Gianluca Jacoli Shield CRE, Inc. #01938297
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