500 N Helberta Avenue, Redondo Beach, CA 90277

$4,650,000
List Price
$4,650,000
Status
ACTIVE
MLS#
SB21059439
Year Built
1935
Lot Size
7,177
Acres
0.16
Days on Market
84
Property Type
Multifamily
Stories
Two Levels

Property Description

500 N Helberta Ave is an 8 unit property and includes a stand alone 2BR/1BA home. Excellent unit mix: (3) 2 Bedrooms/1 Bathroom, (4) 1 Bedroom/1 Bathroom & (1) Studio. All units have been meticulously updated and renovated. New kitchens: shaker cabinetry, quartz counters, designer tile backsplashes and most have new stainless steel appliances and real marble floors. Bathrooms: new tub and tiled shower enclosures, new vanities, lighted mirrors and new fixtures. All units have new hardwood laminate flooring, have been freshly painted with modern color schemes and have private outdoor space. Select units have ocean views. All new plumbing and electrical systems. All new windows. Each unit has its own water heater (7 of 8 are brand new). Onsite laundry (machines owned) and secured garage parking. One garage used by the owner could be rented for additional income. The property is ideally located just a few blocks to the beach, Redondo Beach Pier, marina and Seaside Lagoon. It’s close to a number of restaurants and walking distance to Whole Foods and Starbucks. Also walking distance to award winning schools of all levels. Every unit is occupied by a great tenant at solid rental rates. The current/actual gross annual income is $255,840. With a real NOI of $173,301 the property is priced at an above market 3.75%+ CAP. It’s a turnkey asset perfect for an exchange buyer or anyone looking to add a well located asset in great condition to their portfolio.

Additional Information

Pool Description
None
Garage Spaces Total
7
Sewer
Public Sewer
Water
Public
Number Of Units Total
8
Gross Scheduled Income
$254,040
Operating Expense
72935

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Brian Estes from Re/Max Commercial & Investment

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.