A GREAT MAINTAINED 20 UNITS APARTMENT BUILDING AT THE BEACH. It takes a couple of minutes to get the sand by walk from the building. It is in the center of the Hollywood Riviera area. This apartment building is located between Paseo De La Playa and Calle Mir
116 Paseo De La Concha, Redondo Beach, CA 90277, USA
$12,500,000 USD
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Address116 Paseo de la concha, Redondo Beach
Property SubtypeMulti Family
Price$12,500,000
Price Changed3.77% (-$490,000, 46 days ago)
Property TypeCommercial Sale
Year Built1960
Bedrooms Total0
Living Area16,340 ft2
Listing IDSB20213406
StatusActive
Parcel Number7511019003
ZoningTORR-MD
Special ConditionsStandard
Days on Market104

Detailed Description: A GREAT MAINTAINED 20 UNITS APARTMENT BUILDING AT THE BEACH. It takes a couple of minutes to get the sand by walk from the building. It is in the center of the Hollywood Riviera area. This apartment building is located between Paseo De La Playa and Calle Miramar at Torrance Beach. Comprised of 8 two bedroom / one bathroom and 12 one bedroom / one bath units. There are 4 units have some ocean view from their balconies. Most of the units (about 90%) have been upgraded; some kitchens have travertine stone, granite counters, upgraded cabinets and microwave hoods above stove, some bathroom have upgraded perfectly and much more. The pool is at the center of the building and the laundry room in the premises. There are 20 parking assigned spaces; 19 tuck-under subterranean and 1 enclosed garage space. Separate electric meters, Landlord pays water, gas and Time Warner Cable.

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Address Information
Address116 Paseo de la concha, Redondo Beach
CityRedondo Beach
Location (MLS Area)128 – Hollywood Riviera
County Or ParishLos Angeles
State or ProvinceCA
Postal Code90277
Postal Code Plus46207
CountryUS
Financial Information
Price Changed-3.7721%
Previous Price$12,990,000
Price per Square Foot$764.99
Special ConditionsStandard
Total Expenses$249,114
Professional Management Expense$26,370
Operating Expense$249,114
Insurance Expense$7,405
Electric Expense$2,761
Water Sewer Expense$5,523
Trash Expense$9,164
Maintenance Expense$12,000
Supplies Expense$11,036
Resident Manager Expense$12,604
Other Expense$6,433
Gross Scheduled Income$527,400
Net Operating Income$280,686
Laundry Income$2,400
Effective Gross$529,800
Real Estate Tax Expense$135,483
Tax Annual Amount$135,483
Tax Year2019
Full Descriptions
Parcel Number7511019003
Detailed DescriptionA GREAT MAINTAINED 20 UNITS APARTMENT BUILDING AT THE BEACH. It takes a couple of minutes to get the sand by walk from the building. It is in the center of the Hollywood Riviera area. This apartment building is located between Paseo De La Playa and Calle Miramar at Torrance Beach. Comprised of 8 two bedroom / one bathroom and 12 one bedroom / one bath units. There are 4 units have some ocean view from their balconies. Most of the units (about 90%) have been upgraded; some kitchens have travertine stone, granite counters, upgraded cabinets and microwave hoods above stove, some bathroom have upgraded perfectly and much more. The pool is at the center of the building and the laundry room in the premises. There are 20 parking assigned spaces; 19 tuck-under subterranean and 1 enclosed garage space. Separate electric meters, Landlord pays water, gas and Time Warner Cable.
Water SourcePublic
Construction MaterialsDrywall Walls, Stucco
Security FeaturesCarbon Monoxide Detector (s), Smoke Detector (s)
UtilitiesCable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected
Laundry FeaturesCommon Area, Individual Room
Building NameTradewinds Apartment
Property parameters
Year Built1960
Living Area (Sq.Ft.)16,340 ft2
Lot Size SourceAssessor
Number of Buildings1
Number of Units Leased20
Number of Units Total20
ZoningTORR-MD
Stories Total2
Asset ClassMulti-Family
Parking Spaces20
Carport Spaces20
Water SourcePublic
Land Usage DescriptionMulti-Family
Property SubtypeMulti Family
Building StatusExisting
Units Total20
Year Built SourceAssessor
Accounting TypeActual
Cap Rate (For Cash Payment Only)2.08
Listed withSean Nishio (Project Seven Enterprises)