2014 Carnegie Lane

Redondo Beach, CA 90278

0 Bd
0 Ba
7,510 Lot
$4,300,000 SOLD Price | Closed 7/6/23


2014 Carnegie Ln is a fully remodeled 7 unit property in prime North Redondo Beach. It was originally built in 1964 but just received a top to bottom renovation including a brand new and fully permitted 3BR/2BA ADU. The ideal unit mix consists of 1-3BR/2.5BA two story townhouse, 1-3BR/2BA and 5-2BR/1.5BA. The kitchens are brand new and include real wood slow close shaker cabinetry, quartz Carrera countertops, designer tiled backsplashes and high end stainless steel appliances, all completed with single family level finishes. The bathrooms have new modern themed vanities, mirrors, low flow toilets and bathtubs or walk in showers with designer tiled enclosures. Flooring was updated with luxury wood vinyl designed to look sharp and last for years. The property has newer vinyl windows and all new window blinds. There are new ceiling fans in all bedrooms, new recessed lighting, new smooth finished ceilings, new tankless water heaters in every unit and new extra cabinets for storage in most units. The property has new electric sub panels and electric GFI upgrades (no permits), new wall heaters in every unit and 4 units have new AC which is a rare amenity for beach rentals. 6 of the 7 units also have new high end Samsung or LG washers and dryers. The exterior was updated with a new modern paint scheme, new outdoor lighting and new fencing to privatize an upstairs patio and front yard which was also updated with new AstroTurf. The units are individually metered for utilities and the plumbing is all copper. There is onsite parking in the form of 4 open spaces. The property is 100% leased and stabilized with great tenants at great rental rates. The current gross monthly income is $24,050 and an annual SGI of $288,600. There is $1,600 per month upside in just one of the 2BR/1.5BA units already proven by identical units at the subject property. The property is offered at an actual CAP of 4.81%. Due to the phenomenal revenue generation provided by the subject property there are financing options with much higher leverage versus what is usually afforded to similar properties. Perfectly located only a few blocks to the crux of Hermosa Beach, Manhattan Beach and Redondo Beach. Just less than 2 miles away are the sand and the Hermosa Beach Pier. It has an excellent walk score of 85 (very walkable) and bike score of 69. It’s the perfect opportunity for almost any buyer, from those that are in a 1031 exchange to anyone looking for a better than market cashflow.


Property Details for 2014 Carnegie Lane

Listing Details

Listing Advertised By
Dave Fratello, Edge(310) 243-6299|
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Listing Presented By
Brian Estes
Listing Brokered By
Re/Max Commercial & Investment
Residential Income, Mixed Use
Year Built
1964 (Assessor)
MLS Area
151 - N Redondo Bch/Villas North

Price and MLS Information

Closed | Listing History
MLS Days on Mkt.
Combined DOM*
First Date Active
May 3rd, 2023
Closing Date
July 6th, 2023
Sold Price
Orig. List Price
MLS® #

Home Interior Information

Forced Air
Central Air

Room Information


Exterior Information

Lot Size (sq. ft.)
Lot Size (acres)

Utilities Information

See Remarks
Water Source

Additional Information

Buyer's Brokerage Fee

* 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
151 - N Redondo Bch/Villas North
Redondo Beach
Zip Code
Los Angeles
# of Units

Listing/Price History

2014 Carnegie Lane, Redondo Beach, CA (MLS® #SB23075588)

Date Details Price Change
Closed $4,300,000
Active Under Contract (from Active)
First Day Active $4,200,000

Listing Summary

Quick Summary of 2014 Carnegie Lane: This home in Redondo Beach is priced at $4,200,000 . The Mixed Use residence was originally built in 1964 and was listed on May 3rd, 2023 at $4,200,000, showing 5 Days on Market currently. Contact Dave Fratello today for more information or to go see 2014 Carnegie Lane.


Based on information from California Regional Multiple Listing Service, Inc. as of October 3rd, 2023 at 8:30pm PDT. 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.