Redondo Beach, CA 90277,906 Torrance Boulevard

$7,350,000

Est. payment /mo

$8,250,000

10.9%
Est.Price: ?

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906 Torrance Boulevard Redondo Beach, CA 90277

19,944 SqFt

SOLD DATE : 12/23/2024

Key Details

Sold Price $7,350,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 19,944 sqft

Price per Sqft $368

MLS Listing ID CL24437465

Sold Date 12/23/24

HOA Y/N No

Year Built 1962

Lot Size 0.468 Acres

Acres 0.47

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 Listing

Zoning RBC-

Interior

Heating Natural Gas

Cooling None

Fireplace No

Building

New Construction No

Others

Tax ID 7506022056

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Bridge MLS
Listed by Keith Moret • Lyon Stahl Investment Real Estate, Inc.
Bought with KeithMoret

Jodi Nishimura

Founder & Realtor® | License ID: 01762935

+1(510) 459-0471

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