ASSET 11-unit apartment comprised of (two) 2-bedroom/1-bathroom units, (one) newly built 1-bedroom/1-bathroom + loft ADU, (eight) 1-bedroom/1-bathroom units. No local rent control – defaults to AB 1482. Five of the units have been fully renovated with new floors, new appliances, new doors, dual-pane windows, new cabinets, new quartz counters, crown molding, new LED recess lighting and new bathrooms with new vanities, new tiles and new porcelain tubs. The building exteriors have been extensively upgraded and includes a new cool roof, 3 new tankless hot water heaters, new facia, new gutters, new LED lights, new copper water line and new irrigation. The property has tremendous curb appeal and contains new paint, new planters, front redwood fence, new drought-efficient landscaping and astroturf. Most of the electrical panels have been replaced. The property features 10 garages and the laundry room has 2 new washers and 2 new dryers. LOCATION 2013 Rockefeller Lane is located in a desirable pocket of North Redondo Beach, approximately 1.5 miles from the Pacific Ocean and The Strand. The property is also located near Hermosa Beach Pier, Pier Avenue, King Harbor, Redondo Beach Pier, Downtown Hermosa Beach and all of the boutique retail, entertainment and restaurants of the area. FINANCIALS This 5,800-SF apartment presents stable in-place rents as well as legitimate rental upside. The asset contains a current cap rate of 4.76% and current GRM of 14.42 and a pro-forma cap rate of 6.76% and pro-forma GRM of 11.12.