tomo logo

$3,200,000

Beds
Unknown
sq ft
3,776

214 S Broadway, Redondo Beach, CA 90277

214 S Broadway

Redondo Beach, CA 90277

  • 61 days on market
Prime South Redondo Beach Location just blocks from the Redondo Beach Pier and Harbor. This 7,534 sq ft property sits West of Pacific Coast Highway offering 4 - 1 bedroom 1 bathroom units in the front building and 2 - 1 bedroom 1 bathroom free standing cottages. There is tremendous upside potential with rent increases to market rents as well as potential for an ADU. The property also offers 4 single car garages. Owner has completed upgrades including a new roof installation which is in process. Current CAP rate of 3.4% with $157,740 Gross annual income. Huge upside with Pro forma income of $200,520 would bring the CAP rate to 4.7%. Great opportunity to own a prime location building with huge future upside.

Details

Property type

Mixed Use

Est. home value

$2,904,329

Lot size

7,537 sq ft

Price per sq ft

$848

Year built

1921

Price History

09/23/2024
CRMLS

CRMLS #PV24197358

Listed
$3,200,000
+7.76%
03/11/2022
CLAW

CLAW #22125993

Sold
$2,969,675

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Sidewalks

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

World Svgs Bank Fsb

Loan start date

June 2000

Original loan amount

$540,282

Est. remaining balance

Not provided

Interest rate

8.28%

Loan type

Commercial, 30 year

Seller

Thea M Davidson and The Thea M Davidson Trust

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/22/2024 at 7:40 PM

Listing updated: 09/30/2024 at 9:01 AM

Listed by: Keith Kelley, Palm Realty Boutique Phone #: (424) 304-2079

MLS: CRMLS #PV24197358

CRMLS logo

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