124 Palos Verdes Boulevard Redondo Beach, CA 90277
9,914 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 9,914 sqft
Price per Sqft $716
MLS Listing ID SB-26088593
Year Built 1958
Lot Size 7,954 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
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 heater in units. The asset is not subject to local rent control, providing investors with flexibility to capture future rent growth in a strong and stable rental market. AB1482 State Rent Control only.
Located just minutes from Riviera Village, tenants benefit from immediate access to premier dining, retail, and coastal amenities, as well as proximity to the Redondo Beach coastline, parks, and recreation. The property also offers convenient connectivity to Pacific Coast Highway and major South Bay employment centers, including Torrance, El Segundo, and the greater aerospace and technology corridor.
Positioned within a high-income coastal community characterized by limited multifamily supply and strong historical appreciation, this offering presents a unique opportunity to acquire an irreplaceable asset with both stable in-place cash flow and long-term upside. Additional value-add potential exists through the possible conversion of two garage spaces into accessory dwelling units (ADUs).
This is an ideal acquisition for investors seeking a high-quality, low-maintenance coastal asset in one of Southern California's most supply-constrained and desirable rental markets.
Location
State CA
County Los Angeles
Interior
Interior Features Crown Molding, Copper Plumbing Partial, Ceiling Fan(s), Open Floorplan, Pantry, Recessed Lighting, Unfurnished
Heating Wall Furnace, Floor Furnace
Fireplaces Type Family Room
Laundry Stackable
Exterior
Exterior Feature Lighting, Rain Gutters
Parking Features Garage, Tandem Garage
Garage Spaces 10.0
Pool None
Community Features Sidewalks, Street Lights
Utilities Available Sewer Connected, Water Connected, Electricity Available, Natural Gas Available
View Y/N Yes
View Water, Catalina, City Lights, Coastline
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer