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Listing 2 out of 117
Sold for $11,750,000 Sold

116 Paseo De La Concha
Redondo Beach, CA 90277

20 units | Multi Family Home
17746 sq ft - MLS# SB18027425
Property Photo

Sold

Sold for $11,750,000 on Jun 29, 2018

Description

20 UNIT APARTMENT BUILDING AT THE BEACH! This highly sought after 16,340 sq.ft. Hollywood Riviera apartment building is located between Paseo de la Playa and Calle Miramar at Torrance Beach. Comprised of 12 one bedroom/one bath units and 8 two bedroom/one bath units. VIEWS: 4 units have views; 2 units have balcony views; 2 units have partial balcony views. Most units (60-65%) have been upgraded: some kitchens have travertine stone, granite counters, upgraded cabinets and microwave hoods above stove; some bathrooms have upgraded countertops. Cool roof installed in 2013. Pool and laundry on premises. Separate electric meters. Twenty assigned parking spaces: 19 tuck-under subterranean spaces and 1 enclosed garage space. Landlord pays water, gas & Time Warner Cable TV. Tenant pays electric, internet & phone.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Closed
  • Listing Price: $12,900,000
  • Zip Code: 90277
  • Year Built: 1960
  • Stories: Three Or More
  • Units: 20 units
  • # of Parking Spaces: 20.00
  • Lot Size: 17746 sq ft
  • Pool or Spa: Community Pool,In Ground
  • View: Coastline,Ocean, Yes
  • Area: 128 - Hollywood Riviera
  • Average 1 Bed Area: 750
  • Average 2 Bed Area: 1000
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 16340.00
  • Building Area Units: Square Feet
  • Cable Tv Expense: 9820.00
  • Carport Spaces: 19.00
  • Common Walls: 2+ Common Walls
  • Community Features: Curbs, Sidewalks, Street Lighting
  • Country: US
  • Directions: West of Pacific Coast Highway, between Calle Miramar and Paseo de la Playa
  • Electric Expense: 3860.00
  • Fuel Expense: 3274.00
  • Garage Spaces: 1.00
  • Gardener Expense: 4713.00
  • Gross Income: 464488.00
  • Gross Multiplier: 29.90
  • Gross Scheduled Income: 464488.00
  • Insurance Expense: 12160.00
  • Laundry Equipment Own Lease: Own
  • Laundry Features: Area, Community
  • Laundry Income: 2220.00
  • Laundry YN: Yes
  • Listing Agent License: 00389293
  • Listing Office License: 01877638
  • Lot Features: Landscaped, Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 13604.00
  • Net Operating Income: 146847.00
  • New Taxes Expense: 139000.00
  • Number Of Buildings: 1
  • Number Of Rented Garages: 20
  • Number Of Separate Electric Meters: 21
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 19
  • Operating Expense: 317641.00
  • Other Expense: 61982.00
  • Other Expense Description: Other
  • Parking Features: Assigned, Subterranean
  • Parking YN: Yes
  • Pest Control Expense: 5045.00
  • Pool Expense: 5010.00
  • Property Attached YN: Yes
  • Roof: Other
  • Selling Agent: Sean Nishio
  • Selling Agent License: 01097525
  • Selling Office: Project Seven Enterprises
  • Selling Office License: 01097525
  • Sewer: Public Sewer
  • Total Actual Rent: 39050.00
  • Total Expenses: 317641.00
  • Trash Expense: 21768.00
  • Water Sewer Expense: 6379.00
  • Water Source: Public
  • Year Built Source: Assessor
  • Sold Price: 11750000.00
  • Sold Date: 2018-06-29 00:00:00
Courtesy of United Realty Group, Adolph James

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Krystyna Ryan
Broker Associate
The Real Estate Group
Phone: 310.918.5027
Email: krystynarealestate@gmal.com
BRE # 01485187

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Krystyna Ryan | Broker Associate | The Real Estate Group
Phone: 310.918.5027 | Email: krystynarealestate@gmal.com
BRE # 01485187