213 Calle Miramar Redondo Beach, CA 90277-6269

This exceptional investment opportunity presents a 10-unit apartment building located at 213 Calle Miramar, Redondo Beach, CA 90277. The property boasts 7,048 square feet of living space situated on a 7,906 square foot lot. Built in 1959, this three-story building features a mix of six one-bedroom/one-bathroom and four two-bedroom/two-bathroom units. Currently, the occupancy rate is 20%, offering a significant value-add opportunity for a new owner. The building includes subterranean gated parking. The asking price is $5,300,000, representing $530,000 per unit. The current Net Operating Income (NOI) is $298,741, resulting in a 5.64% capitalization rate. A pro-forma NOI of $331,909 projects a 6.26% capitalization rate. The property is zoned TORR-MD and is not subject to Los Angeles Rent Control, instead falling under AB-1482. Detailed remodel plans, renderings, and information are available for prospective buyers. This prime location in the heart of Hollywood Riviera is just steps from the beach and Riviera Village, offering easy access to upscale restaurants, nightlife, and shopping. This is a rare chance to acquire a generational asset in a highly desirable coastal location.