$1,780,000
$1,800,000
1.1%For more information regarding the value of a property, please contact us for a free consultation.
224 S Broadway Redondo Beach, CA 90277
7,405 Sqft Lot
Key Details
Sold Price $1,780,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB19248445
Sold Date 12/11/19
Construction Status Fixer
HOA Y/N No
Year Built 1920
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions Public Records
Property Description
Maybe every 5 years this type of property comes up for sale. There is nothing like this for sale in the beach cities right now. Total Vintage Charm. Just 2 blocks from the Redondo Beach Pier sits four, 1920’s individual beach cottages. All four units are 1 bed with 1 full bath, plus dining area, and own laundry off kitchens, Each cottage with their own yard & porch. Two units with clawfoot tubs. Original windows and glass. Perfect for a individual or couple. Standalone 2 car garage with 3 car parking spaces in driveway. Attached to garage are 4 separate storage closets.
First time on market in 25 years. This property was originally a 1920's family summer retreat/compound. Additional the property offers a communal hangout to BBQ or just “be.” Note: Photos will be added after 10/25.
Per the city, the units may be eligible for the “Mills Act” to have the property taxes lowered by up to 50%. That would involve restoring the units to their original glory. Conversely, it is possible the units can be razed and 3 new attached townhomes can be built. Detailed financials are available including a 20 year cash flow projection.
All units will be unoccupied by December 1, 2019. That makes is very easy to do anything you want with the property. The units need a lot of TLC, but this property could be an absolute jewel with the right vision.
Location
State CA
County Los Angeles
Area 157 - S Redondo Bch W Of Pch
Zoning RBR-3A
Rooms
Ensuite Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside, Laundry Room
Interior
Laundry Location Washer Hookup,Electric Dryer Hookup,Gas Dryer Hookup,Inside,Laundry Room
Heating Wall Furnace
Cooling None
Flooring Laminate, Wood
Fireplace No
Appliance Water Heater
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Inside, Laundry Room
Exterior
Garage Spaces 2.0
Garage Description 2.0
Fence Average Condition
Pool None
Community Features Curbs, Gutter(s), Street Lights, Sidewalks
Utilities Available Electricity Available, Natural Gas Available, Sewer Connected, Water Connected
View Y/N No
View None
Roof Type Asphalt
Total Parking Spaces 5
Private Pool No
Building
Lot Description Level, Rectangular Lot, Street Level, Tear Down, Value In Land, Yard
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Architectural Style Cottage
Level or Stories One
New Construction No
Construction Status Fixer
Others
Senior Community No
Tax ID 7505019041
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Owner Will Carry, Private Financing Available
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Owner Will Carry, Private Financing Available
Financing Cash
Special Listing Condition Standard, Trust
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Bought with Rika Shimizu • Meldia Investment Realty of America