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Travis Breton

travisbreton@gmail.com +1(760) 470-2752

Listed by Robert Stepp, DRE #01456379 • Keller Williams Realty Downey

$ 2,625,000

Est. payment | -/mo

6,127 Sqft Lot

Save

$ 2,625,000

Est. payment | -/mo

Save

6,127 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CRPW26236605

Year Built 1989

Lot Size 6,127 Sqft

Source California Regional MLS

Property Description

1074 Redondo Avenue is an eight-unit multifamily investment opportunity located in Long Beach, California. Built in 1989, the three-story property consists of 100% spacious two- bedroom/two-bathroom residences averaging approximately 973 square feet. Each unit is equipped with HVAC and a private balcony, while additional amenities include 14 secure parking spaces and individually metered gas and electricity, providing desirable resident conveniences and operational efficiencies. Offered at $2,625,000, the property presents a compelling investment opportunity with pricing and income metrics that compare favorably to recent transactions. The projected 6.54% capitalization rate exceeds the comparable average of 5.95%, while the 9.87 gross rent multiplier is notably below the 12.02 comparable average. These metrics underscore the property's competitive acquisition basis and attractive projected income potential relative to comparable multifamily assets. Currently operated as student housing with rental income generated on a per-bed basis, the property is being marketed as a conventional market-rate multifamily investment. The pro forma reflects a transition to traditional per-unit leasing, with conservatively projected monthly rents of $2,595 per unit, approximately 8.2% below the

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Interior

Laundry None

Exterior

Garage Spaces 14.0

Pool None

Building

Water District - Public

Others

Tax ID 7258007038

Special Listing Condition Not Applicable

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(760) 470-2752

travisbreton@gmail.com

1902 Wright Place #200, Carlsbad, CA 92008, USA

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1074 Redondo Long Beach, CA 90804