Listed by John Katnik, BRC Advisors- BH,

348 Paseo De La Playa

Redondo Beach, CA, 90277

$10,000,000

$1,258 per ft²
$10,000,000
$1,258 per ft²
Active
Active
 - For Sale
beds
16 Beds
baths
16 Baths
carpenters-square
7,943 ft²
property_type
Multi-family
calendar
Built 1960
We are proud to present a once in a lifetime opportunity to acquire an 8-unit oceanfront apartment community located in the affluent city of South Redondo Beach. The Villa de la Playa is 1 of 8 apartment buildings on the street and has been meticulously maintained by current ownership. The property has undergone extensive capital improvement over the past 7 years including anew roof, copper plumbing, refurbished garage doors, solar panels, vinyl windows, three (3) newer water heaters and new decks/railings throughout the building. All unit interiors have been renovated including granite/quartz countertops, new or refinished kitchen cabinets, new appliances, LVP flooring, and new vanities and tile bathrooms. The offering is composed of 1 one-bedroom/one bathroom unit, 5 two-bedroom/two-bathroom units, 1 XL two-bedroom/two-bathroom owner's unit and 1three-bedroom/three-bathroom unit. The three bedroom unit has potential to be split into two separate units as the unit features two entrances and two kitchens. The property is not subject to a local rent control (subject to AB 1482) allowing for 10% rent increases in year 1. The property is in the hottest market in the South Bay walking distance to the Riviera Village which features some of the best restaurants and retail in all of the South Bay. This investment presents a very attractive opportunity to own a turnkey asset on one of the most desirable streets in all of the South Bay.
MLS® ID:
22211649
Listed:
10/23/22
Updated:
12/1/22

Interior Features

Kitchen Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer
Total Bedrooms
16
Total Bathrooms
16
Interior Features
Ceiling Fan(s)
Laundry Description
Common Area
Floor Description
Laminate
Cooling
None
Heating
Central, Wall Furnace

Exterior/Building Features

Lot Size
10,160 ft² lot
Exterior Features
Deck, Open, Patio

Other Property Details

Area Name
128 - Hollywood Riviera
Garage
Yes
Parking
Garage, Tandem
Parking Total
18.0
View
N
County
Los Angeles
Pool
No
Pool Description
None
Total Stories
2
Zoning
TORR-MD

Courtesy of BRC Advisors- BH, John Katnik,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 12/1/22. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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