2720 Carnegie LnRedondo Beach, CA 90278

Property Details for 2720 Carnegie Ln

Year built

1964

Property size (Sq ft)

1,750 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a two-unit, Class A multifamily property located at 2720 and 2720 1/2 Carnegie Lane, Redondo Beach, CA 90278. The property boasts a total of 3,750 net rentable square feet, spread across two buildings, each two stories high, built in 1964 and renovated in 2012. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $73,200, with a projected NOI of $85,200. The asking price is $2,500,000, representing a current cap rate of 3.00% and a pro-forma cap rate of 3.41%. Situated on a rare R-3 zoned lot, this property offers significant redevelopment potential. Explore options such as constructing three townhomes, adding additional accessory dwelling units (ADUs), or expanding the existing structures. The property's prime location in Redondo Beach provides easy access to shopping, freeways, highly-rated schools, SoFi Stadium, and LAX. This well-maintained property presents a compelling combination of immediate income and substantial long-term growth potential. The existing units provide a stable income stream while redevelopment plans are developed and implemented. This is a rare opportunity to acquire a multifamily property with significant upside in a highly desirable location.

Location Insight

City

Redondo Beach

County

Los Angeles

State

California

Latitude

33.8708

Longitude

-118.36

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