Current Use by Public Records
- Retail properties & Spaces
Property Details for 1907-1909 Catalina Ave
- Year built
- 1954
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional Redondo Beach retail property presents a unique investment opportunity. Located at 1907-1909 S. Catalina Ave., this fee-simple owned, 3,600 square foot storefront boasts three individual 1,200 square foot units, currently 100% occupied with a July 1, 2024 occupancy date. The property features a desirable location in the heart of Riviera Village, just steps from the Pacific Ocean, offering 60 feet of frontage on Catalina Avenue. Built in 1954, the single-story building sits on a 5,894 square foot lot (APN 7511-016-028) and is zoned RB C-2 Pedestrian Oriented. The current net operating income (NOI) is $97,029, yielding a 2.99% cap rate. However, a pro-forma NOI of $172,800 projects a 5.32% cap rate, reflecting significant potential for value appreciation through rental rate adjustments and property improvements. All units are separately metered for gas and electricity, and a new roof was installed in 2023. This multi-tenant property offers a compelling combination of immediate income and long-term growth potential, making it an ideal acquisition for both investors and owner-users seeking a generational asset in a prime coastal location. The asking price is $3,250,000, translating to $902.78 per square foot.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Redondo Beach
- County
- Los Angeles
- State
- California
- Longitude
- -118.387
- Latitude
- 33.8159
