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3706 Redondo Beach Blvd 4 Unit Apartment Building $1,595,000 ($398,750/Unit) 5.02% Cap Rate Torrance, CA 90504
INVESTMENT HIGHLIGHTS
- Outstanding Owner-User Opportunity with Renovated 2-Bedroom Unit Delivered Vacant | Unit Mix of (Four) 2-Bedroom/1-Bathroom Units
- Each Unit Contains Individual Hot Water Heaters & Private Patios | Main Sewer Line Has Been Replaced
- On-Site Laundry Facility – Generates Additional Annual Income | Total of 4 Garage Spaces
- Highly Desirable North Torrance Location – Across the Street from Alondra Park & a Few Blocks from El Camino College
- 5.02% Current Cap Rate & 14.03 Current GRM | 6.13% Pro-Forma Cap Rate & 12.08 Pro-Forma GRM
- Qualifies for Attractive Residential Financing
EXECUTIVE SUMMARY
ASSET
Fourplex apartment in a highly desirable Torrance location. Not subject to local rent control – AB 1482 only. The asset consists of (four) 2-bedroom/1-bathroom units. One of the units is vacant and has been renovated which presents a desirable owner-user opportunity. Each unit contains an individual hot water heater and private patio. The property features a newer sewer line, four garage spaces and an on-site laundry facility which is able to generate additional annual income.
LOCATION
3706 Redondo Beach Boulevard has an outstanding North Torrance location, across the street Alondra Park and a few blocks from El Camino College and the South Bay Galleria. Also, it is in close proximity to the many employment centers such as Northrup Grumman, Raytheon, SoFi Stadium, Intuit Dome, Los Angeles Times, Hollywood Park Tomorrow, Boeing, and the LAX Airport.
FINANCIALS
This 3,516-SF asset contains stable-in place rents as well as legitimate rental upside. The property has a current cap rate of 5.02% and a current GRM of 14.03. The asset also presents rental upside with a pro-forma cap rate of 6.13% and pro-form GRM of 12.08. Furthermore, the property qualifies for attractive residential financing.
Fourplex apartment in a highly desirable Torrance location. Not subject to local rent control – AB 1482 only. The asset consists of (four) 2-bedroom/1-bathroom units. One of the units is vacant and has been renovated which presents a desirable owner-user opportunity. Each unit contains an individual hot water heater and private patio. The property features a newer sewer line, four garage spaces and an on-site laundry facility which is able to generate additional annual income.
LOCATION
3706 Redondo Beach Boulevard has an outstanding North Torrance location, across the street Alondra Park and a few blocks from El Camino College and the South Bay Galleria. Also, it is in close proximity to the many employment centers such as Northrup Grumman, Raytheon, SoFi Stadium, Intuit Dome, Los Angeles Times, Hollywood Park Tomorrow, Boeing, and the LAX Airport.
FINANCIALS
This 3,516-SF asset contains stable-in place rents as well as legitimate rental upside. The property has a current cap rate of 5.02% and a current GRM of 14.03. The asset also presents rental upside with a pro-forma cap rate of 6.13% and pro-form GRM of 12.08. Furthermore, the property qualifies for attractive residential financing.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$113,700
|
$17.63
|
| Other Income |
$480
|
$0.07
|
| Vacancy Loss |
$3,425
|
$0.53
|
| Effective Gross Income |
$110,755
|
$17.17
|
| Taxes |
$19,937
|
$3.09
|
| Operating Expenses |
$10,806
|
$1.68
|
| Total Expenses |
$30,743
|
$4.77
|
| Net Operating Income |
$80,012
|
$12.40
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $113,700 |
| Annual Per SF | $17.63 |
| Other Income | |
|---|---|
| Annual | $480 |
| Annual Per SF | $0.07 |
| Vacancy Loss | |
|---|---|
| Annual | $3,425 |
| Annual Per SF | $0.53 |
| Effective Gross Income | |
|---|---|
| Annual | $110,755 |
| Annual Per SF | $17.17 |
| Taxes | |
|---|---|
| Annual | $19,937 |
| Annual Per SF | $3.09 |
| Operating Expenses | |
|---|---|
| Annual | $10,806 |
| Annual Per SF | $1.68 |
| Total Expenses | |
|---|---|
| Annual | $30,743 |
| Annual Per SF | $4.77 |
| Net Operating Income | |
|---|---|
| Annual | $80,012 |
| Annual Per SF | $12.40 |
PROPERTY FACTS
| Price | $1,595,000 | Apartment Style | Garden |
| Price Per Unit | $398,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.02% | Building Size | 3,516 SF |
| Gross Rent Multiplier | 14.03 | Average Occupancy | 75% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 1.14/1,000 SF |
| Zoning | TORR-MH | ||
| Price | $1,595,000 |
| Price Per Unit | $398,750 |
| Sale Type | Investment |
| Cap Rate | 5.02% |
| Gross Rent Multiplier | 14.03 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,516 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | TORR-MH |
AMENITIES
UNIT AMENITIES
- Patio
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $2,369 | - |
1 1
Walk Score®
Very Walkable (73)
PROPERTY TAXES
| Parcel Number | 4087-002-006 | Total Assessment | $1,195,830 (2025) |
| Land Assessment | $745,142 (2025) | Annual Taxes | $19,937 ($5.67/SF) |
| Improvements Assessment | $450,688 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
4087-002-006
Land Assessment
$745,142 (2025)
Improvements Assessment
$450,688 (2025)
Total Assessment
$1,195,830 (2025)
Annual Taxes
$19,937 ($5.67/SF)
Tax Year
2024
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3706 Redondo Beach Blvd
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