Skip To Content

1525 Redondo Avenue

Long Beach, CA 90804
  • $1,249,900
  • STATUS: Active
  • ON SITE: 24 Days
  • ID#: WS24024397
Price Reduced
$1,249,900
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1930
County:

School Ratings & Info

Listing Agent(s): Wilson Bang of REAL ESTATES UNLIMITED (626-662-7168)


Description

Introducing 1525 Redondo Avenue, a lucrative investment opportunity with immediate upside potential with Ready to Issue permits for 2 ADUs consisting of 1,400 additional square feet. Nestled on a spacious 7,000 square foot lot, this colonial-style quadplex presents a rare chance to own a versatile income-generating property. Currently, three units are occupied, with two units tastefully remodeled and another housing a long-term tenant with rent being below market creating upside for a new owner. The fourth unit will be ready to market after minor updates, providing an ideal canvas ready for you to spark your creativity with minimal required renovations. Conveniently positioned near colleges, downtown Long Beach, and the ocean, this centrally located property offers great access to Long Beach and the greater Los Angeles area while being just minutes away from Belmont Shores. Whether you're seeking a cash flowing investment opportunity or a delightful place to call home, this property offers the best of both worlds.What sets this property apart is the tremendous upside it offers. Plans to add two ADUs (each with a 2bed/1ba configuration) have already been approved by the city with permits RTI (Ready to Issue)! Maximize the profits with your very own buildout and realize profits immediately. The RTI permits offers a buyer optionality to either rent at market rents or occupy one while the rest of the property generates income. Once construction is complete, the total of 6 units will double the income and maximize the market valuation for a great return on your investment!

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-01T00:31:17.237. 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 deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
www.legacy15.com/homes/147284882
Print Image

1525 Redondo Avenue Long Beach, CA 90804

  • Price: $1,249,900
  • Status: Active
  • On Site: 24 Days
  • ID#: WS24024397
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1930
Built
Neighborhood:
Eastside (Es)
County:
Los Angeles
Area:
3 - Eastside, Circle Area
Property Description
Introducing 1525 Redondo Avenue, a lucrative investment opportunity with immediate upside potential with Ready to Issue permits for 2 ADUs consisting of 1,400 additional square feet. Nestled on a spacious 7,000 square foot lot, this colonial-style quadplex presents a rare chance to own a versatile income-generating property. Currently, three units are occupied, with two units tastefully remodeled and another housing a long-term tenant with rent being below market creating upside for a new owner. The fourth unit will be ready to market after minor updates, providing an ideal canvas ready for you to spark your creativity with minimal required renovations. Conveniently positioned near colleges, downtown Long Beach, and the ocean, this centrally located property offers great access to Long Beach and the greater Los Angeles area while being just minutes away from Belmont Shores. Whether you're seeking a cash flowing investment opportunity or a delightful place to call home, this property offers the best of both worlds.What sets this property apart is the tremendous upside it offers. Plans to add two ADUs (each with a 2bed/1ba configuration) have already been approved by the city with permits RTI (Ready to Issue)! Maximize the profits with your very own buildout and realize profits immediately. The RTI permits offers a buyer optionality to either rent at market rents or occupy one while the rest of the property generates income. Once construction is complete, the total of 6 units will double the income and maximize the market valuation for a great return on your investment!
Exterior Features

Entry Level 1 Entry Location front / back Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 4 Parking Features Driveway Parking Total 2 Pool Features None Pool Private YN No Property Attached YN Yes View Neighborhood View YN Yes

Interior Features

Appliances Dryer Common Walls 1 Common Wall Cooling Wall/Window Unit(s) Cooling YN Yes Heating Electric Heating YN Yes

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsStreet LightsUrban Contingency Buyer to assume current tenants.Note: 4th unit requires minor updating to be available Electric Expense 0 Exclusions Personal Property Fuel Expense 1080 Garage YN No Gross Income 51648 Gross Scheduled Income 51648 Insurance Expense 2200 Land Lease YN No Laundry Features Washer Hookup Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New LoanConventional Net Operating Income 29634 New Construction YN No Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 22014 Property Sub Type Quadruplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Electricity Trash Expense 564 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 756 Water Source Public Zoning LBR3T



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-01T00:31:17.237. 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 deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372371695-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372371695-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372371695-2.jpg
Logo
Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Wilson Bang of REAL ESTATES UNLIMITED (626-662-7168)