1906 Marshallfield Ln
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1906 Marshallfield Ln
2 Unit Apartment Building $1,390,000 ($695,000/Unit) 4.15% Cap Rate Redondo Beach, CA 90278
Investment Highlights
- TWO HOUSES ON A LOT - DELIVERED 100% VACANT | OUTSTANDING OWNER-USER OPPORTUNITY
- LARGE 7,507-SF LOT | DESIRABLE NORTH REDONDO LOCATION
- TWO-CAR GARAGE | RESIDENTIAL ASSET - QUALIFIES FOR RESIDENTIAL FINANCING
- 3-BED/1-BATH HOUSE & 2-BED/1-BATH HOUSE | BOTH UNITS REMODELED & CONTAIN WASHER/DRYER HOOK-UPS
- NO LOCAL RENT CONTROL - DEFAULTS TO AB 1482 | CLOSE PROXIMITY TO HERMOSA BEACH PIER, PIER AVENUE, KING HARBOR & REDONDO BEACH PIER
- STRONG NEIGHBORING EMPLOYMENT: NORTHRUP GRUMMAN, TESLA, MATTEL & AEROSPACE DEFENSE COMPANIES
Executive Summary
VALUE-ADD OPPORTUNITY!
PRICE REDUCED!
Located just moments from the Hermosa Beach Pier, King Harbor, and Redondo Beach Pier, this exceptional property features two homes on a large 7,507-square-foot lot in the highly sought-after North Redondo neighborhood. The front 2-bedroom, 1-bathroom house and rear 3-bedroom, 1-bathroom house each come with washer/dryer hookups and offer a fantastic opportunity for both owner-users and investors. With no local rent control and qualifying for residential financing, this property can be delivered 100% vacant, making it ideal for immediate occupancy.
PRICE REDUCED!
Located just moments from the Hermosa Beach Pier, King Harbor, and Redondo Beach Pier, this exceptional property features two homes on a large 7,507-square-foot lot in the highly sought-after North Redondo neighborhood. The front 2-bedroom, 1-bathroom house and rear 3-bedroom, 1-bathroom house each come with washer/dryer hookups and offer a fantastic opportunity for both owner-users and investors. With no local rent control and qualifying for residential financing, this property can be delivered 100% vacant, making it ideal for immediate occupancy.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$84,000
|
$70.63
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,520
|
$2.12
|
| Effective Gross Income |
$81,480
|
$68.51
|
| Taxes |
$17,375
|
$14.61
|
| Operating Expenses |
$6,370
|
$5.36
|
| Total Expenses |
$23,745
|
$19.96
|
| Net Operating Income |
$57,735
|
$48.54
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $84,000 |
| Annual Per SF | $70.63 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,520 |
| Annual Per SF | $2.12 |
| Effective Gross Income | |
|---|---|
| Annual | $81,480 |
| Annual Per SF | $68.51 |
| Taxes | |
|---|---|
| Annual | $17,375 |
| Annual Per SF | $14.61 |
| Operating Expenses | |
|---|---|
| Annual | $6,370 |
| Annual Per SF | $5.36 |
| Total Expenses | |
|---|---|
| Annual | $23,745 |
| Annual Per SF | $19.96 |
| Net Operating Income | |
|---|---|
| Annual | $57,735 |
| Annual Per SF | $48.54 |
Property Facts
| Price | $1,390,000 | Apartment Style | Low Rise |
| Price Per Unit | $695,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 4.15% | Building Size | 1,189 SF |
| Gross Rent Multiplier | 16.55 | Average Occupancy | 0% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.08/1,000 SF |
| Price | $1,390,000 |
| Price Per Unit | $695,000 |
| Sale Type | Investment |
| Cap Rate | 4.15% |
| Gross Rent Multiplier | 16.55 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 1,189 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built | 1961 |
| Parking Ratio | 1.08/1,000 SF |
Unit Amenities
- Washer/Dryer Hookup
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $3,850 | - |
| 2+1 | 1 | $3,150 | - |
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Walk Score ®
Very Walkable (73)
zoning
| Zoning Code | RBR-2 (Low Density miltiple-family residental zone) |
| RBR-2 (Low Density miltiple-family residental zone) |
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1906 Marshallfield Ln
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