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Listed by Joseph Nuzzolo • Thompson Team Real Estate, Inc.
$ 7,950,000
Est. payment /mo
New
1505 South Catalina Redondo Beach, CA 90277
7,584 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,584 sqft
Price per Sqft $1,048
MLS Listing ID SB-25228698
Year Built 1951
Lot Size 0.345 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
This exceptional 11-unit apartment building is being offered for the first time in over 30 years and is located just one minute from the ocean in one of Southern California's most prestigious and highly sought-after beach communities. The property features a balanced unit mix of 5 two-bedroom/one-bath units, 5 one-bedroom/one-bath units, and 1 studio unit, with all units occupied except the studio, ensuring strong and stable tenancy. Investors will appreciate 10 attached garage spaces with alley access, individually metered utilities for each unit, and the absence of city rent control, providing both efficiency and flexibility in operations. With a pro forma cap rate of approximately 3% and an unbeatable location that ensures consistent long-term demand, this asset presents a once-in-a-lifetime opportunity to acquire a generational trophy property in one of Southern California's best-performing coastal markets.
Location
State CA
County Los Angeles
Area 157 - S Redondo Bch S Of Pch
Interior
Laundry See Remarks
Exterior
Parking Features Garage Faces Rear
Garage Spaces 10.0
Pool None
Community Features Curbs
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
