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Listing 9 out of 117
Sold for $2,850,000 Sold

502 N Elena Avenue
Redondo Beach, CA 90277

7 units | Multi Family Home
6016 sq ft - MLS# 18409526
Property Photo

Sold

Sold for $2,850,000 on May 3, 2019

Description

-No Rent Control -Centered in the Upscale South Redondo Beach Coastal Community - 3 Blocks from the Pacific Ocean -Located West of Pacific Coast Highway - Walking Distance to the Pacific Ocean and King Harbor -Outstanding Unit Mix - (One) Three-Bedroom/Two-Bathroom Unit, (One) Two-Bedroom/One-and-Half-Bathroom Townhouse Unit, & (Five) One-Bedroom/One-Bathroom Units -Over 24% in Rental Upside - Pro-Forma Cap Rate of 5.07% & Pro-Forma GRM of 14.76

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Closed
  • Listing Price: $3,025,000
  • Zip Code: 90277
  • Year Built: 1964
  • Units: 7 units
  • Lot Size: 6016 sq ft
  • Zoning: RBR-3A
  • Area: 157 - S Redondo Bch W of PCH
  • Building Area Total: 4840.00
  • Cap Rate: 3.80
  • Co-Listing Agent License: 02081496
  • Co-Listing Office License: 02081496
  • Cooling: See Remarks
  • Cooling YN: Yes
  • Directions: West of Pacific Coast Highway, North of Beryl Street
  • Gross Multiplier: 18.31
  • Gross Operating Income: 163037.00
  • Improvements Amount: 652399
  • Insurance Expense: 2178.00
  • Land Value: 1863999
  • Laundry Features: See Remarks
  • Laundry YN: Yes
  • Listing Agent License: 01938297
  • Listing Office License: 02081496
  • Lot Size Area: 6015.0000
  • Lot Size Source: Estimated
  • Lot Size Units: Square Feet
  • MLS: CL
  • Maintenance Expense: 2100.00
  • Net Operating Income: 114911.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Other Expense: 1400.00
  • Other Income1: 2754.00
  • Parking Features: Garage
  • Parking YN: Yes
  • Selling Agent: Rick Thomas
  • Selling Agent License: 00761763
  • Selling Office: Merit Real Estate
  • Stories Total: 2
  • Total Actual Rent: 165240.00
  • Total Expenses: 48126.00
  • Water Sewer Expense: 3916.00
  • Sold Date: 2019-05-03 00:00:00
  • Sold Price: 2850000.00
Courtesy of Shield Cre, Inc., Gianluca Jacoli

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