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2420 Grant Ave 5 Unit Apartment Building $3,675,000 ($735,000/Unit) 4.59% Cap Rate Redondo Beach, CA 90278
INVESTMENT HIGHLIGHTS
- 2420 Grant Avenue offers a five-unit, beautifully remodeled multifamily property in the heart of Redondo Beach.
- With the perfect blend of modern luxury and coastal charm, this is a low-maintenance asset with minimal deferred maintenance.
- Excellent 1031 exchange or long-term hold opportunity featuring long-term, stable tenants with consistent rent collection.
- Desirable Redondo Beach location just minutes from pristine sandy beaches, schools, major employers, and nearby amenities.
EXECUTIVE SUMMARY
2420 Grant Avenue presents a rare opportunity to acquire a turnkey five-unit multifamily asset in one of the South Bay’s most desirable rental markets. Fully renovated inside and out, the property features a clean unit mix with long-term, stable tenants offering immediate cash flow with significant upside in rental income over time.
Each unit has been thoughtfully updated with modern finishes, including new kitchens, updated bathrooms, flooring, and fixtures. The exterior has also been improved, offering strong curb appeal and low-maintenance operation. Located in a highly desirable coastal community, this property is just moments from stunning beaches, top-rated schools, and a vibrant local scene, making it a prime choice for renters seeking the best of Southern California living.
Redondo Beach is a vibrant coastal city in the South Bay region of Los Angeles County, California. Known for its iconic pier, scenic coastline, and active lifestyle, Redondo Beach offers a blend of seaside charm and urban convenience. The city is divided into two main areas: North Redondo Beach, which is more suburban and inland, and South Redondo Beach, known for its proximity to the beach and laid-back atmosphere. Both areas feature excellent schools, parks, and a strong sense of community.
With its strong in-place income and the scarcity of multifamily properties in Redondo Beach, this is a rare opportunity to own a premium asset in a high-demand, supply-constrained rental market. The property is further distinguished by its beach-inspired exterior, high-end finishes, and affluent location, making 2420 Grant Avenue an exceptional turnkey investment in one of Los Angeles County's most desirable areas.
Each unit has been thoughtfully updated with modern finishes, including new kitchens, updated bathrooms, flooring, and fixtures. The exterior has also been improved, offering strong curb appeal and low-maintenance operation. Located in a highly desirable coastal community, this property is just moments from stunning beaches, top-rated schools, and a vibrant local scene, making it a prime choice for renters seeking the best of Southern California living.
Redondo Beach is a vibrant coastal city in the South Bay region of Los Angeles County, California. Known for its iconic pier, scenic coastline, and active lifestyle, Redondo Beach offers a blend of seaside charm and urban convenience. The city is divided into two main areas: North Redondo Beach, which is more suburban and inland, and South Redondo Beach, known for its proximity to the beach and laid-back atmosphere. Both areas feature excellent schools, parks, and a strong sense of community.
With its strong in-place income and the scarcity of multifamily properties in Redondo Beach, this is a rare opportunity to own a premium asset in a high-demand, supply-constrained rental market. The property is further distinguished by its beach-inspired exterior, high-end finishes, and affluent location, making 2420 Grant Avenue an exceptional turnkey investment in one of Los Angeles County's most desirable areas.
PROPERTY FACTS
| Price | $3,675,000 | Apartment Style | Low-Rise |
| Price Per Unit | $735,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.59% | Building Size | 4,250 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1952/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Zoning | RBR-3 - Limited Density Multiple Residence | ||
| Price | $3,675,000 |
| Price Per Unit | $735,000 |
| Sale Type | Investment |
| Cap Rate | 4.59% |
| Sale Condition | 1031 Exchange |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,250 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1952/2021 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | RBR-3 - Limited Density Multiple Residence |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Oven
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 750 - 825 |
| 3+2 | 1 | - | 1,000 |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 4157-018-002 | Improvements Assessment | $699,249 |
| Land Assessment | $1,082,432 | Total Assessment | $1,781,681 |
PROPERTY TAXES
Parcel Number
4157-018-002
Land Assessment
$1,082,432
Improvements Assessment
$699,249
Total Assessment
$1,781,681
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