Skip To Content

706 N Prospect Avenue

Redondo Beach, CA 90277
  • $5,495,000
  • STATUS: Active
  • ON SITE: 37 Days
  • ID#: 22146817
Price Reduced
UPDATED: 77 min ago
$5,495,000
  • 0
    BEDS
  • 0.24
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1980
County:

School Ratings & Info

Listing Agent(s): Nabil Awada of Matthews Real Estate Investment Services (866-889-0550)


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. The owner is in the process of voluntarily completing a Soft-Story Retrofit for the property. 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.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-23T08:24:06.383. 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/127757928
Print Image

706 N Prospect Avenue Redondo Beach, CA 90277

  • Price: $5,495,000
  • Status: Active
  • On Site: 37 Days
  • Updated: 77 min ago
  • ID#: 22146817
0
Beds
0
Baths
0
½ Baths
0.24
Acres
1980
Built
Neighborhood:
155 - S Redondo Bch N of Torrance Bl
County:
Los Angeles
Area:
155 - S Redondo Bch N of Torrance Bl
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. The owner is in the process of voluntarily completing a Soft-Story Retrofit for the property. 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.
Exterior Features

Parking Features Garage Parking Total 13

Property Features

Association Fee 0 Garage YN Yes Gross Income 335400 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 202690 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Rbrmd



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-23T08:24:06.383. 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_368524688-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_368524688-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_368524688-1.jpg
Logo
Legacy 15 Real Estate Brokers
22521 Avenida Empresa Suites 100 & 102
Rancho Santa Margarita CA, 92688
Listing Agent(s): Nabil Awada of Matthews Real Estate Investment Services (866-889-0550)