2701 Curtis AveRedondo Beach, CA 90278

Property Details for 2701 Curtis Ave

Year built

1964

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

5,090 SF

Zone code

RBR-3

Property type

Apartment buildings

APN

4153-030-006

APU

4153030006

Description

This well-maintained eight-unit apartment building in desirable North Redondo Beach, California presents a compelling investment opportunity. Situated on a spacious 7,500 square foot lot, the property offers a total of 5,090 square feet of living space. The unit mix includes two two-bedroom, one-bathroom units and six one-bedroom, one-bathroom units. Currently generating a Net Operating Income (NOI) of $122,412, resulting in a 4.45% capitalization rate, the property offers significant upside potential. Pro-forma NOI is projected at $163,226, representing a 5.94% pro-forma capitalization rate. The asking price is $2,750,000, or $343,750 per unit. Built in 1964, this property benefits from its location, approximately ten minutes from the Manhattan Beach Pier and the Redondo Performing Arts Center. The strong rental market in this sought-after area suggests long-term appreciation potential. This property is priced competitively, representing a best-per-unit deal in North Redondo Beach. The substantial lot size and potential for rental increases further enhance its investment appeal. This is an excellent opportunity for investors seeking a stable income stream with significant growth prospects in a prime coastal location. The property's strong fundamentals and location make it an attractive addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $2,073,730

  6.5%

  $1,914,210

  7%

  $1,777,480

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,436,780

  Geo Method

  $1,436,780

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,950,740

  Retail / Commercial

  $1,545,250

  Mixed-Use / Specialty

  $1,565,060

  Hospitality / Lodging

  $1,181,190

  Office

  $1,582,130

  Institutional / Educational

  $1,636,080

  Multifamily

  $2,155,460

  Automotive / Energy

  $1,402,350

  Parking / Income-Based Land

  $458,924

  Restaurant / Food Service

  $868,027

  Healthcare / Senior Housing

  $1,578,980

Location Insight

City

Redondo Beach

County

Los Angeles

State

California

Latitude

33.8778

Longitude

-118.362

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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