706 N Prospect Avenue, Redondo Beach, CA 90277

$5,200,000
List Price
$5,200,000
Status
ACTIVE
MLS#
22185099
Year Built
1980
Lot Size
10,264
Acres
0.2356
Days on Market
14
Property Type
Multifamily

Property Description

Matthews is pleased to present 706 N. Prospect Avenue, a 7-unit, individually parceled condominium building in Redondo Beach, CA. This is an opportunity for an investor to purchase a multifamily property in a prime South Bay location, minutes from world-class beaches, parks, restaurants, schools, and boutiques. Located 20 miles from Downtown Los Angeles and 7 miles south of LAX, 706 N. Prospect offers residents the best of coastal living with big-city amenities and convenient access to the 405 Freeway. Nearby attractions include Redondo Beach Pier, SEA Lab marine conservation center, South Bay Galleria, Redondo Beach Performing Arts Center, and Hopkins Wilderness Park.The property consists of a desirable unit mix of (1) three-bedroom/three-bathroom, (5) two-bedroom/one and a half-bathroom, and (1) one-bedroom/one-bathroom units with an average unit size of 1,216 SF. Built in 1980, the property has had 3 of the 7 units renovated in 2021/2022. This offering is ideal for an investor to capitalize on the tight rental market and significant mark-to-market upside or to sell off the condos individually.

Additional Information

Attached Structure
Detached
Number Of Units Total
7

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Listing Agent: John Wright from Listing Office: Matthews Real Estate Investment Services

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.