348 Paseo De La Playa, Redondo Beach, CA

$9,000,000

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7,943

Square feet

0.23

Acres

About 348 Paseo De La Playa

We are proud to present a once in a lifetime opportunity to acquire an 8-unit oceanfront apartment community located in the affluent city of South Redondo Beach. The Villa de la Playa is 1 of 8 apartment buildings on the street and has been meticulously maintained by current ownership. The property has undergone extensive capital improvement over the past 7 years including anew roof, copper plumbing, refurbished garage doors, solar panels, vinyl windows, three (3) newer water heaters and new decks/railings throughout the building. All unit interiors have been renovated including granite/quartz countertops, new or refinished kitchen cabinets, new appliances, LVP flooring, and new vanities and tile bathrooms. The offering is composed of 1 one-bedroom/one bathroom unit, 5 two-bedroom/two-bathroom units, 1 XL two-bedroom/two-bathroom owner's unit and 1three-bedroom/three-bathroom unit. The three bedroom unit has potential to be split into two separate units as the unit features two entrances and two kitchens. The property is not subject to a local rent control (subject to AB 1482) allowing for 10% rent increases in year 1. The property is in the hottest market in the South Bay walking distance to the Riviera Village which features some of the best restaurants and retail in all of the South Bay. This investment presents a very attractive opportunity to own a turnkey asset on one of the most desirable streets in all of the South Bay.

Features of 348 Paseo De La Playa

MLS® # 22211649
Price $9,000,000
Bathrooms 0.00
Square Footage 7,943
Acres 0.23
Year Built 1960
Type Residential Income
Status Active

Community Information

Address 348 Paseo De La Playa
Area 128 - Hollywood Riviera
City Redondo Beach
County Los Angeles
State CA
Zip Code 90277

Amenities

Parking Spaces 18
Parking Garage, Tandem
Garages Garage, Tandem
Is Waterfront No
Waterfront Ocean Front
Has Pool No
Pool None

Interior

Interior Laminate
Interior Features Ceiling Fan(s)
Appliances Dishwasher, Disposal, Microwave, Refrigerator, Dryer, Washer
Heating Central, Wall Furnace
Cooling None
Has Basement No
Fireplace No
# of Stories 2

Additional Information

Date Listed October 24th, 2022
Days on Market 85
Zoning TORR-MD
Foreclosure No
Short Sale No
RE / Bank Owned No
HOA Fees 0.00

Listing Details

AgentJohn Katnik
OfficeBRC Advisors- BH

Listing Map

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