Four-Unit
For Sale
$2,175,000
Pending
2409 Inglewood Ave., Redondo Beach, CA 90278
Income property in North Redondo Beach with access to coastal destinations, retail, dining, parks, and major employment centers.
Property Size4,500 SF
Days on Market30
Property Features for 2409 Inglewood Ave.
General Information
Standard status
Pending
Size
4,500 SF
Property subtype
Quadruplex
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
4,500 SF
Year Built
1984
Listing Agency:
Smallwood Real Estate & Investments
Listed By:
Gary Smallwood · License #00776733
Source:
2buy
Added: Aug 3
Changed: Aug 31
Last Checked: Aug 28 at 7:11PM
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 Smallwood Real Estate & Investments
Investment Insights
Based on property information with market context.
This four-unit multifamily property was built in 1984 and is located at 2409 Inglewood Ave. in Redondo Beach. The asset is positioned within North Redondo Beach and offers a residential income configuration suited to multifamily ownership.
The property provides access to South Bay destinations including Redondo Beach Pier, The Strand, Hermosa Beach, and Manhattan Beach. Nearby conveniences include shopping, restaurants, coffee shops, parks, and everyday services. Major freeways are readily accessible, with LAX and regional employment centers within a short drive. The property is also located within the Redondo Beach Unified School District.
The property provides access to South Bay destinations including Redondo Beach Pier, The Strand, Hermosa Beach, and Manhattan Beach. Nearby conveniences include shopping, restaurants, coffee shops, parks, and everyday services. Major freeways are readily accessible, with LAX and regional employment centers within a short drive. The property is also located within the Redondo Beach Unified School District.
Key Highlights
- Four‑unit multifamily property built in 1984
- Located at 2409 Inglewood Ave., Redondo Beach, CA 90278
- Access to Redondo Beach Pier, The Strand, Hermosa Beach, and Manhattan Beach
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,586
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,571,720
$1.6M
Cap Rate 7%
$1,122,657
$1.1M
Cap Rate 9%
$873,178
$873.2K
Market Conditions
NOI Build-Up for 4,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$121.5K $27.00/SF
− Vacancy
−$9.2K −$2.05/SF
EGI
$112.3K $24.95/SF
− OpEx
−$33.7K −$7.48/SF
NOI
$78.6K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,571,720
Cap Rate 7%
$1,122,657
Cap Rate 9%
$873,178
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$982.3K – $1.31M
NOI $78,586 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$1.03M
$905.1K – $1.21M
NOI $72,409 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,650 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,689
Businesses Nearby
Explore this area
Business Placement
Demographics for 90278, CA
42,188
Population
16,628
Households
2.5
Avg Household Size
39
Median Age
62%
College-Educated
96%
High-School Grad
3.7 sq mi
ZIP Area
11,402
Density / Sq Mi
$148,581
Median Household Income
$86,999
Median Earnings
$2,417
Median Rent
$1,195,700
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?
Quadplex - Income property in North Redondo Beach with access to coastal destinations, retail, dining, parks, and major employment centers.
Where is this quadplex located?
The property is located at 2409 Inglewood Ave. Redondo Beach, CA.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: Four‑unit multifamily property built in 1984; Located at 2409 Inglewood Ave., Redondo Beach, CA 90278; Access to Redondo Beach Pier, The Strand, Hermosa Beach, and Manhattan Beach
