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1104 Opal Street

Redondo Beach, 90277

0 Bd
0 Ba
7,210 Lot
$2,265,000 SOLD Price | Closed 8/17/23
Closed Status
56 Days on Market
Jun 8 First Day Active
$2,400,000 Start Price

Description

The subject property is a 4 unit apartment complex in a Prime area of South Redondo Beach on a quiet cul-de-sac just 1 mile from the beach! The property has been in the same family for 45 years and has been well maintained. The rents are significantly below market, with 25-40% upside in rental income on all units. There is immediate upside of 6% on each unit as the seller only gave tenants a 3% increase as of May 1, 2023 and all tenants are on a month-to-month tenancy.



The front unit is a large 3-bedroom 2-bath Townhome style unit with an attached 2 car garage. The remaining units are 2-bedroom 1.75-bath units with shared garages, and there are open parking spaces for 2 vehicles.



The building is all electric, and the units are separately metered, so that the tenants pay their own electric utilities. There is a laundry room on site that is on a lease with WEB. Each unit has a patio or balcony and there is a common area in back for tenants to BBQ. The building features pitched roofs, copper plumbing and high quality Milgard brand windows have been installed in place of the original windows.



This is a great opportunity for an investor or someone who wants to occupy a unit at some time in the future.

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Property Details for 1104 Opal Street

Listing Details

Listing Advertised By
Dave Fratello, Edge(310) 243-6299|
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Listing Presented By
Stephen Lampe
Listing Brokered By
Re/Max Commercial & Investment
Type
Residential Income, Apartment
Year Built
1965 (Assessor)
MLS Area
156 - S Redondo Bch S of Torrance Bl

Price and MLS Information

Status
Closed | Listing History
MLS Days on Mkt.
56 DOM
Combined DOM*
56
First Date Active
June 8th, 2023
Closing Date
August 17th, 2023
Sold Price
$2,265,000
Orig. List Price
$2,400,000
MLS® #
SB23101204
APN
7506023073
Special
Standard

Home Interior Information

Levels/Stories
Two
Fireplaces
Living Room

Room Information

Laundry
CommonArea

Exterior Information

Lot Description
Cul-De-Sac, Front Yard, Landscaped
Lot Size (sq. ft.)
7,210
Lot Size (acres)
0.17
Roof
See Remarks
Pool
None
Parking Spaces
6
Garage Spaces
6

Utilities Information

Utilities
Cable Available, Electricity Connected, Natural Gas Not Available, Phone Available, Sewer Connected, Water Connected
Water Source
Public

Additional Information

Prop. Condition
UpdatedRemodeled, Turnkey
Zoning
RBRMD
Buyer's Brokerage Fee
2.500

* Combined DOM (CDOM) counts the total days on market for each time a property is listed, and continues counting until the property is Canceled/Expired for 90 days, no matter which agent or broker lists the property. This figure presents a truer picture of time on market because agents sometimes "re-list" a property after it has been on the market a while to try to “refresh” the Days on Market count, or sellers may change agents when a property has failed to sell.

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Neighborhood Information

MLS Area
156 - S Redondo Bch S of Torrance Bl
City/State
Redondo Beach
Zip Code
90277
County
Los Angeles
# of Units
4
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Listing/Price History

1104 Opal Street, Redondo Beach, (MLS® #SB23101204)

Date Details Price Change
Closed $2,265,000
Pending
Active Under Contract (from Active)
Price Reduced (from $2,400,000) $2,300,000 $100,000 (4.17%)
First Day Active $2,400,000
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Listing Summary

Quick Summary of 1104 Opal Street: This home in Redondo Beach is priced at $2,300,000 . The Apartment residence was originally built in 1965 and was listed on June 8th, 2023 at $2,400,000, showing 56 Days on Market currently. Contact Dave Fratello today for more information or to go see 1104 Opal Street.

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Based on information from California Regional Multiple Listing Service, Inc. as of February 25th, 2024 at 5:10pm PST. 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.