Listings / 108 N PROSPECT AVE

108 N PROSPECT AVE 108 N Prospect Ave, Redondo Beach, CA 90277

Price $2,250,000

Cap Rate 3.27%

GRM 20.05

Units 4

Price Per Unit $562,500

Gross Sq. Footage 4,492 SF

Year Built 1973

Status available

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Matthews Real Estate Investment Services is proud to offer 108 N Prospect Avenue. This 4-unit apartment building is an opportunity for an investor to purchase a multifamily property in the heart of beautiful South Redondo Beach.

This turn-key investment allows for an owner to live in one unit and enjoy the top of the market rental income from the others. This opportunity also allows for a potential investor to obtain residential financing. The building consists of (1) three bedroom/two-bathroom owner’s unit and (3) two bedroom/one and a half-bathroom units. Property is located less than one mile away from the beach and is near award-winning Redondo Beach schools. A buyer can capitalize on the tight rental market and rents in this neighborhood by implementing a strategic unit interior renovation plan, which will upgrade the units and allow the buyer to command top of the market rents. Rents at the high end of the range result in 26% upside.