213 Calle Miramar - Apartments FOR SALE


Redondo Beach, CA 90277
$5,300,000 USD
310-593-9861
213 Calle Miramar, Redondo Beach, CA for Sale
$5,300,000 USD
Apartments - FOR SALE
1/11
null | 5.64% Cap Rate

213 Calle Miramar
Redondo Beach, CA 90277


HIGHLIGHTS

  • Located in the Heart of Hollywood Riviera - Just 4 Properties Away from the Ocean
  • Delivered 80% Vacant - Outstanding Opportunity to Remodel Units & Obtain Top Market Rents
  • No Local Rent Control – Defaults to AB 1482 | Footsteps from Riviera Village and the Beach
  • 5.64% Cap Rate & 13.83 GRM | 6.26% Pro-Forma Cap Rate & 12.73 Pro-Forma GRM | 7,048-SF of Living Area on 7,906-SF Lot
  • Seller has Plans, Renderings, and Information Regarding Remodel Available for Buyer | Generation Asset in A-Class Trophy Location
  • Unit Mix of (Four) 2-Bedroom/2-Bathroom Units & (Six) 1-Bedorom/1-Bathroom Units | Subterranean Parking

OVERVIEW

HUGE PRICE REDUCTION! Luca is proud to present this rare opportunity to purchase 10 Units delivered 80% Vacant just 4 properties away from the Ocean. Located in the Heart of Hollywood Riviera, the property is perfectly situated just footsteps from both the sand and Riviera Village – filled with high-end restaurants, night life, shopping, and many more amenities. The subject property consists of (6) 1-bedroom/1-Bathroom Units and (4) 2-Bedroom/2-Bathroom Units. The subject property is a blank canvas as 8 out of 10 Units are currently vacant, offering an investor the ability to begin their remodeling workday 1. The property offers subterranean gated parking. Seller has in-place plans, renderings, and other information for a remodel, which can be provided to perspective buyers. This is an A-Class Trophy location and is NOT subject to LA Rent Control and instead falls under AB-1482.

FOR SALE DETAILS

PRICE

$5,300,000 USD

PRICE/SF

$752 USD /SF

# OF UNITS

10

PRICE/UNIT

$530,000

CAP RATE

5.64%

% LEASED

20%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,906 SF

ZONING

TORR-MD

APN/PARCEL ID

7511-019-031

ASK ABOUT THIS PROPERTY

Gianluca JacoliShield Commercial Real EstateMore Info
310-593-9861

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Gianluca JacoliShield Commercial Real EstateMore Info
310-593-9861

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.