1304 Amethyst Street, Redondo Beach, CA 90277
List Price: $2.25M
Listing Status: Active
Original List Price: $2.29M
0Days on Market: 48
9 Bedrooms · 7 Bathrooms · 4,260 sq ft
Property Type: ResidentialIncome
Year Built: 1963
Lot Size: 5,541 sq ft
Garage Spaces: 5
MLS Number: 26742045
About This Property
This well-located fourplex offers a premier investment opportunity in the highly sought-after South Redondo Beach market, situated approximately one mile from the Redondo Beach Pier, King Harbor, and the Pacific Ocean. The property provides tenants with convenient access to an abundance of coastal dining, retail, and lifestyle amenities. The asset features an attractive unit mix of (1) 4-bed/1.75-bath front unit, (2) 2-bed/1.75-bath units and (1) 1-bed/1-bath unit. From an investment standpoint, the property offers a compelling financial profile with a 4.34% current cap rate and 15.70 GRM, along with significant upside to a 6.02% pro-forma cap rate and 12.35 GRM. Not subject to local rent control (AB 1482 only), the asset allows for consistent and favorable rent growth. The all-electric configuration eliminates gas expenses and supports an efficient operating structure with minimal expenses. Additional features include five garage spaces providing ample garage parking for tenants. The property also boasts strong curb appeal with a recently painted exterior and new landscaping. The asset also qualifies for residential financing, expanding buyer's financing options and offering access to more attractive loan terms.
Listing provided by: Gianluca Jacoli DRE #01938297 310-593-9869 luca@shieldcre.com, Shield CRE, Inc.
Source: CRMLS, MLS #: 26742045
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.