2720 Carnegie Ln Redondo Beach, CA 90278
- Residential income homes
- 1,750 SF
Current Use by Public Records
- Residential income homes
Property Details for 2720 Carnegie Ln
- Year built
- 1964
- Property size
- 1,750 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a two-unit, Class A multifamily property located at 2720 and 2720 1/2 Carnegie Lane, Redondo Beach, CA 90278. The property boasts a total of 3,750 net rentable square feet, spread across two buildings, each two stories high, built in 1964 and renovated in 2012. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $73,200, with a projected NOI of $85,200. The asking price is $2,500,000, representing a current cap rate of 3.00% and a pro-forma cap rate of 3.41%. Situated on a rare R-3 zoned lot, this property offers significant redevelopment potential. Explore options such as constructing three townhomes, adding additional accessory dwelling units (ADUs), or expanding the existing structures. The property's prime location in Redondo Beach provides easy access to shopping, freeways, highly-rated schools, SoFi Stadium, and LAX. This well-maintained property presents a compelling combination of immediate income and substantial long-term growth potential. The existing units provide a stable income stream while redevelopment plans are developed and implemented. This is a rare opportunity to acquire a multifamily property with significant upside in a highly desirable location.
Value Estimation
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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
- -118.3603989
- Latitude
- 33.8708149
