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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$7,300,000

Est. payment - /mo

7,954 Sqft Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26088593

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1958

Lot Size 7,954 Sqft

Property Sub-Type Apartment

Property Description

TR WEALTH MANAGEMENT, INC. is pleased to present a rare opportunity to acquire a 10-unit trophy multifamily asset located in the South Redondo Beach / Hollywood Riviera submarket. The addresses are 124-128 Palos Verdes Blvd totaling 9,914 sf with similar floor plans and ocean views. The property is two separate APN (Parcels) with 5 units each forming a central courtyard. Perched in a premier coastal setting, this asset has ocean and sunset views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces.

A desirable unit mix of 9 large 2-bedrooms, 1 bathroom & 1 2-bedroom, 2 baths units offering 975 rentable area and spacious & functional layouts makes tenants want to reside here. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements delivers a turnkey investment with minimal deferred maintenance.

The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot water heater in units. The asset is not subject to local rent control, providing investors with flexibility to capture future rent growth in a strong and stable rental market. AB1482 State Rent Control only.

Located just minutes from Riviera Village, tenants benefit from immediate access to premier dining, retail, and coastal amenities, as well as proximity to the Redondo Beach coastline, parks, and recreation. The property also offers convenient connectivity to Pacific Coast Highway and major South Bay employment centers, including Torrance, El Segundo, and the greater aerospace and technology corridor.

Positioned within a high-income coastal community characterized by limited multifamily supply and strong historical appreciation, this offering presents a unique opportunity to acquire an irreplaceable asset with both stable in-place cash flow and long-term upside. Additional value-add potential exists through the possible conversion of two garage spaces into accessory dwelling units (ADUs).

This is an ideal acquisition for investors seeking a high-quality, low-maintenance coastal asset in one of Southern California's most supply-constrained and desirable rental markets.

Location

State CA

County Los Angeles

Area 699 - Not Defined

Interior

Interior Features Ceiling Fan(s), Crown Molding, Open Floorplan, Pantry, Recessed Lighting, Unfurnished

Heating Floor Furnace, Wall Furnace

Cooling None

Fireplaces Type Family Room

Fireplace Yes

Appliance Dishwasher, Electric Cooktop, Electric Oven, Free-Standing Range, Gas Oven, Gas Water Heater, Range Hood, Vented Exhaust Fan

Laundry Stacked

Exterior

Exterior Feature Lighting, Rain Gutters

Parking Features Garage, Tandem

Garage Spaces 10.0

Garage Description 10.0

Pool None

Community Features Street Lights, Sidewalks

Utilities Available Electricity Available, Natural Gas Available, Sewer Connected, Water Connected

View Y/N Yes

View Catalina, City Lights, Coastline, Water

Roof Type Composition,Shingle

Total Parking Spaces 20

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level Multi/Split

Foundation Raised

Sewer Public Sewer

Water Public

Level or Stories Multi/Split

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 7514001005

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Energy Description 382.0

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by William Mulkey TR Wealth Management Inc. 310-919-7554, DRE #00986020

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124 Palos Verdes BLVD Redondo Beach, CA 90277