Ocean-View 10-Unit Apartment
For Sale
$7,100,000
124 Palos Verdes Boulevard, Redondo Beach, CA 90277
Two parcels create a central courtyard property with remodeled interiors, upgraded systems, garages, and tandem parking.
Property Size9,914 SF
Price / SF$716.16
Days on Market95
Property Features for 124 Palos Verdes Boulevard
General Information
Standard status
Active
Size
9,914 SF
Total Parking Spaces
20
Property subtype
Apartment
Units
Unit Mix
9 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
10
Additional Details
Cap Rate
4.5%
Highway Access
Yes
Building Details
Building Size
9,914 SF
Year Built
1958
Listing Agency:
TR Wealth Management Inc.
Listed By:
William Mulkey · License #00986020
Source:
2buy
Added: Apr 29
Changed: Aug 1
Last Checked: Aug 1 at 3:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TR Wealth Management Inc.
Investment Insights
Based on property information with market context.
This 10-unit apartment property spans 9,914 square feet across two parcels, with five units on each parcel arranged around a central courtyard. The unit mix includes 9 two-bedroom, one-bath residences and 1 two-bedroom, two-bath residence. Eight units have been remodeled, with improvements including updated plumbing and electrical systems, new subpanels, modern appliances, and interior and exterior enhancements. The property also includes 10 garages and 10 tandem parking spaces, along with ocean views.
Built in 1958, the asset is located at 124-128 Palos Verdes Boulevard in Redondo Beach’s South Redondo Beach and Hollywood Riviera submarket. Riviera Village, coastal amenities, parks, and recreation are nearby, while Pacific Coast Highway provides access to Torrance, El Segundo, and other South Bay employment centers. The property is subject to AB1482 State Rent Control only and includes a RUBS program. Potential future work includes renovating two units and evaluating conversion of two garage spaces into ADUs.
Built in 1958, the asset is located at 124-128 Palos Verdes Boulevard in Redondo Beach’s South Redondo Beach and Hollywood Riviera submarket. Riviera Village, coastal amenities, parks, and recreation are nearby, while Pacific Coast Highway provides access to Torrance, El Segundo, and other South Bay employment centers. The property is subject to AB1482 State Rent Control only and includes a RUBS program. Potential future work includes renovating two units and evaluating conversion of two garage spaces into ADUs.
Key Highlights
- 10‑unit apartment property totaling 9,914 square feet
- Unit mix includes 9 two‑bedroom, one‑bath units and 1 two‑bedroom, two‑bath unit
- 8 of 10 units remodeled with upgraded plumbing, electrical systems, subpanels, and appliances
Property Analytics
Current Use
Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,869
Businesses Nearby
Explore this area
Business Placement
Demographics for 90277, CA
37,856
Population
18,229
Households
2.1
Avg Household Size
45
Median Age
70%
College-Educated
98%
High-School Grad
3.6 sq mi
ZIP Area
10,516
Density / Sq Mi
$131,985
Median Household Income
$87,191
Median Earnings
$2,621
Median Rent
$1,403,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two parcels create a central courtyard property with remodeled interiors, upgraded systems, garages, and tandem parking.
Where is this apartment building located?
The property is located at 124 Palos Verdes Boulevard Redondo Beach, CA.
What is the asking price?
The asking price for this property is $7,100,000.
What are key features of this property?
This property features: 10‑unit apartment property totaling 9,914 square feet; Unit mix includes 9 two‑bedroom, one‑bath units and 1 two‑bedroom, two‑bath unit; 8 of 10 units remodeled with upgraded plumbing, electrical systems, subpanels, and appliances
