214 S Broadway, Redondo Beach, CA 90277

About this property

Prime South Redondo Beach Location just blocks from the Redondo Beach Pier and Harbor. This 7,534 sq ft property sits West of Pacific Coast Highway offering 4 - 1 bedroom 1 bathroom units in the front building and 2 - 1 bedroom 1 bathroom free standing cottages. There is tremendous upside potential with rent increases to market rents as well as potential for an ADU. The property also offers 4 single car garages. Owner has completed upgrades including a new roof installation which is in process. Current CAP rate of 3.4% with $157,740 Gross annual income. Huge upside with Pro forma income of $200,520 would bring the CAP rate to 4.7%. Great opportunity to own a prime location building with huge future upside.

Listing description from the January 2025 sale, as reported to CRMLS.

Sale history

$2,400,000

Sold January 2025 · listed $3,200,000, on market September 2024 · MLS #PV24197358 · Source: CRMLS

Listing Agent: Keith Kelley · Listing Office: Palm Realty Boutique · Contact: 310-944-5554 · Bought with: Devin Jensen · Jensen Realty

$2,969,675

Sold March 2022 · listed $2,850,000, on market February 2022 · MLS #22125993 · Source: CRMLS

Listing Agent: Gianluca Jacoli · Listing Office: Shield CRE, Inc. · Contact: 310-593-9869 · Bought with: Keith Kelley · Palm Realty Boutique

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