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Price Reduced by $50,000! Located in North Redondo Beach, 2320 Grant Avenue consists of (1) 2-Bedroom/1-Bathroom House and (4) 2-bedroom/1-bathroom units. The front house is completely detached from the rear units and contains a private front yard and its own washer/dryer hookups. Additionally, a rear private backyard is located behind the rear building providing private outdoor space for one of the 2-Bedroom/1-Bathroom units. The property sits on a 7,509-SF lot and features 5 garage spaces. The asset contains stable-in place rents yielding a 4.56% cap rate and 15.65 GRM. The property also has significant rental upside with a pro-forma cap rate of 5.95%. This is a perfect opportunity for an Owner-User or an investor looking to achieve higher rents. The property is NOT subject to Los Angeles City Rent Control and defaults to AB-1482 where an investor can raise rents up to 8.9% annually as of today.
Last Updated | 9/6/2024 | Year Built | 1951 |
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Community | N Redondo Bch/Villas South | Garage Spaces | 5.0 |
County | Los Angeles |
Price History
Prior to Sep 6, '24 | $2,550,000 |
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Sep 6, '24 - Today | $2,500,000 |
Additional Details
APPLIANCES | Dryer, Washer |
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AREA | N Redondo Bch/Villas South |
GARAGE | Garage, Yes |
LOT | 7509 sq ft |
PARKING | Garage |
STORIES | 1 |
ZONING | RBR-3 |
Location
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