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Property description
Located in North Redondo Beach, 2320 Grant Avenue consists of (1) 2-Bedroom/1-Bathroom House and (4) 2-bedroom/1-bathroom units. The front house is currently vacant for the new buyer. The front house is completely detached from the rear units and contains a private front yard and its own washer/dryer hookup. Additionally, a rear private backyard is located behind the rear building providing private outdoor space for one of the 2-Bedroom/1-Bathroom units. The property sits on a 7, 509-SF lot and features 5 garage spaces. The asset contains stable-in place rents yielding a 4.55% cap rate and 15.69 GRM. The property also has significant rental upside with a pro-forma cap rate of 5.81%. This is a perfect opportunity for an Owner-User or an investor looking to achieve higher rents. The property is NOT subject to Los Angeles City Rent Control and defaults to AB-1482 where an investor can raise rents up to 8.9% annually as of today.For more details:
Listed by: Gianluca Jacoli