Redondo Beach, CA 90277,906 Torrance Blvd

$7,350,000

Est. payment /mo

$8,250,000

10.9%
Est.Price: ?

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906 Torrance Blvd Redondo Beach, CA 90277

38 Beds

30 Baths

19,944 SqFt

SOLD DATE : 12/23/2024

Key Details

Sold Price $7,350,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 19,944 sqft

Price per Sqft $368

MLS Listing ID 24-437465

Sold Date 12/23/24

Style Mid-Century

Bedrooms 38

Year Built 1962

Lot Size 0.468 Acres

Acres 0.4681

Property Description

This 26 Unit Property presents an opportunity to add value to a very desirable asset in a Premium location. The 906 Redondo Apts. is located in one of Southern California's most sought-after areas, Redondo Beach. It's about a mile from Redondo Pier/Fisherman's Wharf, and the Pacific Ocean. This is a mecca for weekend tourists with over 50 options for dining, shopping, and water activities. The charming Flatiron style building built in the 60's, sits on a robust commercial corner, but offers the tenants parking access off a quiet cul-de-sac. The unit mix is ideal with (2) 3 BR's; (7) 2BR's and (17) 1BR's. There are 24 covered parking spaces plus (3) garages. The front entrance features a lush garden with a tropical theme and a stairwell to the secure gate. That entry leads to an open courtyard with a heated pool, and lounge area for tenants. The property has been professionally managed for years and offers immediate and attainable upside of 27%. The city of Redondo Beach is subject only to state rent control (AB1482) and rents can be raised annually by 5% plus CPI.

Location

State CA

County Los Angeles

Area S. Redondo Beach South Of Torrance Blvd

Zoning RBC-2

Rooms

Other Rooms None

Interior

Heating Natural Gas

Cooling None

Equipment Ceiling Fan, Dishwasher, Garbage Disposal

Exterior

Parking Features Assigned, Garage

Garage Spaces 27.0

Building

Story 1

Architectural Style Mid-Century

Level or Stories Two

Others

Special Listing Condition Standard

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TheMLS (CLAW)
Listed by Lyon Stahl Investment Real Estate, Inc.
Bought with Lyon Stahl Investment Real Estate, Inc.

Pure Luxury Realty

Broker

+1(562) 392-0668

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