2701 Curtis Ave
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2701 Curtis Ave
8 Unit Apartment Building $2,750,000 ($343,750/Unit) 4.45% Cap Rate Redondo Beach, CA 90278
Investment Highlights
- Well-Maintained 8-Unit in North Redondo
- 4.36% CAP | 14.80 GRM
- 5,090 Total SF On a Large 7,504 SF Lot
- Strong Unit Mix: (2) 2-Bed/1-Bath Units, (6) 1-Bed/1-Bath Units
- 25% Rental Upside | 5.82% Market Cap | 11.85 Market GRM
- Good Location in North Redondo, Appx 10 Minutes to the Manhattan Beach Pier + Redondo Performing Arts Center
Executive Summary
Discover this well-maintained 8-unit property located in North Redondo. Situated on a spacious 7,504 SF lot, this property offers a total of 5,090 SF of living space, with a mix of (2) 2-bed/1-bath units and (6) 1-bed/1-bath units. Priced at an attractive $343,750 per unit, the property boasts a strong income with a 4.45% CAP rate and a 14.56 GRM on current rents. It also has very strong upside potential with 25% rental upside and a market cap of 5.94%. Altogether, this is an excellent investment opportunity in a desirable, beach city location, perfect for those looking to capitalize on the steady rental market in this sought-after area w/ long term appreciation potential.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,750,000 | Apartment Style | Low Rise |
| Price Per Unit | $343,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.45% | Building Size | 5,090 SF |
| Gross Rent Multiplier | 14.56 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 3.14/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,750,000 |
| Price Per Unit | $343,750 |
| Sale Type | Investment |
| Cap Rate | 4.45% |
| Gross Rent Multiplier | 14.56 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,090 SF |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 3.14/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 2 | - | - |
Walk Score ®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 4153-030-006 | Improvements Assessment | $343,542 (2024) |
| Land Assessment | $301,310 (2024) | Total Assessment | $644,852 (2024) |
PROPERTY TAXES
Parcel Number
4153-030-006
Land Assessment
$301,310 (2024)
Improvements Assessment
$343,542 (2024)
Total Assessment
$644,852 (2024)
zoning
| Zoning Code | RBR-3 |
| RBR-3 |
-
Brett Lyon -
Woody Stahl -
Duncan Backus -
Lyon Stahl Investment Real Estate
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