108 North Prospect Avenue

Redondo Beach, CA 90277

$2,060,000
Last Sold Price
9
Beds
9
Baths
4,492 Sq. Ft.
$459 / Sq. Ft.
4,492
Sq. Ft.
$459
per Sq. Ft.

Description

This 4-unit apartment building is an opportunity for an investor to purchase a multifamily property in the heart of beautiful South Redondo Beach. This turn-key investment allows for an owner to live in one unit and enjoy the top of the market rental income from the others. This opportunity also allows for a potential investor to obtain residential financing. The building consists of (1) three-bedroom/two-bathroom owner's unit and (3) two-bedroom/one and a half-bathroom units. Property is located...This 4-unit apartment building is an opportunity for an investor to purchase a multifamily property in the heart of beautiful South Redondo Beach. This turn-key investment allows for an owner to live in one unit and enjoy the top of the market rental income from the others. This opportunity also allows for a potential investor to obtain residential financing. The building consists of (1) three-bedroom/two-bathroom owner's unit and (3) two-bedroom/one and a half-bathroom units. Property is located less than one mile away from the beach and is near award-winning Redondo Beach schools. A buyer can capitalize on the tight rental market and rents in this neighborhood by implementing a strategic unit interior renovation plan, which will upgrade the units and allow the buyer to command top of the market rents. Rents at the high end of the range result in 26% upside.
  1. Listed by David Harrington • DRE #01320460 • Brokerage DRE #01469842 • Matthews Real Estate Investment Services
  2. Listed by Nabil Awada • DRE #02046840 • Brokerage DRE #01469842 • Matthews Real Estate Investment Services

Property Details for 108 North Prospect Avenue

Zoning
RBR-3
Parcel Number
7518004019
Total Units
4.0
Living Area
4492
Source Living Area
Vendor Enhanced
Area
S. Redondo Beach North of Torrance Blvd (155)
Vacancy Rate
3
Lot Size Area
6439
LISTING UPDATED: 01/11/2021 06:09 PM

Property Details for 108 North Prospect Avenue

StatusSold
MLS #19-518638
Days on Market67
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1973
Lot Size0.15 AC / 6,439 SF
CountyLos Angeles County

Building Information for 108 North Prospect Avenue

Stories2Residences-Year Built1973Building Size-Lot Size0.15 AC / 6,439 SF

Property Information for 108 North Prospect Avenue

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Standard
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $108,834
  • Net Operating Income: $73,644.00
  • Gross Income: $112,200
  • Gross Rent Multiplier: $20.05
  • Total Annual Expense: 35190
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 6439
  • Geocode Override: 0.0
Parking Details
Parking Details
  • Parking Garage: Garage
  • Total Parking: 6
  • Parking Features: Garage
Interior Features
Interior Features
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • Pool: No
  • Tennis: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-08-2019
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,500.00
  • Unit Actual Rent: $2,500.00
  • Unit Projected Rent: $3,850.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,350.00
  • Unit Actual Rent: $2,350.00
  • Unit Projected Rent: $2,650.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,350.00
  • Unit Actual Rent: $2,350.00
  • Unit Projected Rent: $2,650.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,150.00
  • Unit Actual Rent: $2,150.00
  • Unit Projected Rent: $2,650.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $560,747.00
  • Assessed Land Value: $263,876.00

Property History for 108 North Prospect Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 108 North Prospect Avenue

Taxable ValueLand$1,664,640Additions$832,320Total$2,496,960
Tax Record2024$28,597 ($2,383 / month)
Home Facts
Total Finished SqFt4,492 SqFtAbove Grade Finished SqFt4,492 SqFtLot Size6,426 SqFtStyleQuadraplexYear Built1973ZoningRBR-3CountyLOS ANGELESAPN7518-004-019

Schools near 108 North Prospect Avenue

This home is within Redondo Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Beryl Heights Elementary School
PublicK to 5

Parras (Nick G.) Middle School
Public6 to 8

Redondo Union High School
Public9 to 12

Redondo Beach Learning Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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Listing Courtesy of Matthews Real Estate Investment Services, David Harrington, DRE #01320460; Matthews Real Estate Investment Services, Nabil Awada, DRE #02046840

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.