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Gary & Colleen Wolfson
(858) 792-6085
Direct Office:
(818) 597-4513
colleenwolfson@bhhscal.com
DRE# 01044223
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Gary & Colleen Wolfson
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(858) 792-6085
Direct Office:
(818) 597-4513
colleenwolfson@
bhhscal.com
DRE# 01044223
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(858) 792-6085
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SOLD
$2,265,000
Date 08/17/2023

1104 Opal Street
Redondo Beach, CA 90277

Apartment
Residence
4,610
Sqft
0.1655
Lot Size
Listing Agent: Stephen Lampe CalDRE: 01164364 - Re/Max Commercial & Investment

Description for 1104 Opal Street Redondo Beach, CA 90277

The subject property is a 4 unit apartment complex in a Prime area of South Redondo Beach on a quiet cul-de-sac just 1 mile from the beach! The property has been in the same family for 45 years and has been well maintained. The rents are significantly below market, with 25-40% upside in rental income on all units. There is immediate upside of 6% on each unit as the seller only gave tenants a 3% increase as of May 1, 2023 and all tenants are on a month-to-month tenancy. The front unit is a large 3-bedroom 2-bath Townhome style unit with an attached 2 car garage. The remaining units are 2-bedroom 1.75-bath units with shared garages, and there are open parking spaces for 2 vehicles. The building is all electric, and the units are separately metered, so that the tenants pay their own electric utilities. There is a laundry room on site that is on a lease with WEB. Each unit has a patio or balcony and there is a common area in back for tenants to BBQ. The building features pitched roofs, copper plumbing and high quality Milgard brand windows have been installed in place of the original windows. This is a great opportunity for an investor or someone who wants to occupy a unit at some time in the future.

Property Details

SB23101204
Apartment, 2 Story
Los Angeles
1965
0.1655 Acres
Public
2
Public Sewer
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Listing Agent: Stephen Lampe CalDRE: 01164364 - Re/Max Commercial & Investment
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Gary & Colleen Wolfson

Dean Stalter, Broker CalBRE# 00625377 -

23925 Park Sorrento, Calabasas, CA 91302 | Phone: (818) 597-4513 | Email: colleenwolfson@bhhscal.com

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