1907-1909 Catalina Ave Redondo Beach, CA 90277

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.