2400 Vanderbilt Lane, Redondo Beach, CA 90278

About this property

Fantastic Opportunity to Acquire a Well Maintained 9-Unit Apartment Building in North Redondo Beach. Property upgrades include a new roof, interior upgrades in 5 of the 9 units (within the past 18 months - upgrades vary per unit). Features include new vinyl plank and tile flooring, tiled showers, new cabinetry, new counters, smooth ceilings, and recessed lighting. Strong rental location with 7 of the 9 tenants on month-to-month agreements. Room to raise rents in 2023. The unit mix consists of (1) 2 Bedroom 1 Bath and (8) 1 Bedroom 1 Bath. Ample uncovered parking for 9 vehicles plus two 1-car garages. Separate gas & electric meters along with five of the residents paying towards RUBS utility sharing. New on-site community laundry room with 2 washers/2 dryers (machines are owned). Ditch the car with a Walk Score of 91 “Walkers Paradise” and a bike score of 87 “Very Bikeable. Just 2.5 miles to the Pacific Ocean & the popular Hermosa and Manhattan Beaches. Close to public transportation, the 405, 110 and 91 Freeways, shopping, restaurants, coffee shops, parks, and award-winning Redondo Beach Schools. No City of Redondo Beach Rent Control, Subject only to California AB1482. Zip Code 90278 received an overall A+ Grade per Niche.com.

Listing description from the September 2023 sale, as reported to CRMLS.

Sale history

$2,800,000

Sold September 2023 · listed $2,995,000, on market July 2023 · MLS #SB23138037 · Source: CRMLS

Listing Agent: Nancy Bush · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-425-9838 · Bought with: Kimiyasu Murayoshi · Andrew C. Lee

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