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814 W Redondo Beach Blvd 10 Unit Apartment Building $2,895,000 ($289,500/Unit) 5.24% Cap Rate Gardena, CA 90247
Investment Highlights
- 1986 Construction | Property is Not Subject to L.A. RSO – Defaults to AB 1482
- Unit Mix of (1) 2-Bedroom/2-Bathroom Unit & (9) 2-Bedroom/1-Bathroom Units
- Each Unit Contains Individual Hot Water Heaters & Air Conditioning | Gated Building w/ Newer Windows & Concrete Parking Lot w/ 20 Parking Spaces
- Attractive Assumable Loan of Approximately $1,472,000 at 3.57% Fixed Until May 2032 | Large 16,926-SF Lot
- Large Lot & Ample Parking Area Present Desirable Opportunity to Add Up to 8 ADUs | Three Storage Units and 2 Garages - Generate Additional Income
- 5.24% Cap Rate & 11.99 GRM | 6.38% Pro-Forma Cap Rate & 10.01 Pro-Forma GRM
Executive Summary
ASSET
10-unit apartment located in Gardena built in 1986. Property is not subject to L.A. City Rent Stabilization Ordinance – defaults to AB 1482. Situated on a large 16,926-SF lot, the property is comprised of (1) 2-bedroom/2-bathroom unit and (9) 2-bedroom/1-bathroom units. Each unit contains individual hot water heaters and air conditioners.
The large lot presents a desirable opportunity to add ADUs in the parking area at the rear of the property. Furthermore, the property is gated and features newer windows, an on-site laundry facility, 3 storage units, 2 garages, and 18 surface parking spaces.
LOCATION
814 W. Redondo Beach Boulevard is located in a desirable pocket of Gardena, just a few blocks from Gardena Plaza, Tokyo Central Market, Hustler Casino and Memorial Hospital of Gardena. The asset is conveniently located to the many retail shops, restaurants, entertainment, and shopping centers of the area.
FINANCIALS
814 W. Redondo Beach Boulevard has a desirable assumable loan of approximately $1,472,000 remaining which is fixed at 3.57% until May 2032. This 9,200-SF apartment presents stable in-place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.24% and current GRM of 11.99 and a pro-forma cap rate of 6.38% and pro-forma GRM of 10.01.
*Loan amount and terms for assumable note are subject to change. Buyer to verify. Please do not disturb tenants. Buyer to conduct their own due diligence and investigation.
10-unit apartment located in Gardena built in 1986. Property is not subject to L.A. City Rent Stabilization Ordinance – defaults to AB 1482. Situated on a large 16,926-SF lot, the property is comprised of (1) 2-bedroom/2-bathroom unit and (9) 2-bedroom/1-bathroom units. Each unit contains individual hot water heaters and air conditioners.
The large lot presents a desirable opportunity to add ADUs in the parking area at the rear of the property. Furthermore, the property is gated and features newer windows, an on-site laundry facility, 3 storage units, 2 garages, and 18 surface parking spaces.
LOCATION
814 W. Redondo Beach Boulevard is located in a desirable pocket of Gardena, just a few blocks from Gardena Plaza, Tokyo Central Market, Hustler Casino and Memorial Hospital of Gardena. The asset is conveniently located to the many retail shops, restaurants, entertainment, and shopping centers of the area.
FINANCIALS
814 W. Redondo Beach Boulevard has a desirable assumable loan of approximately $1,472,000 remaining which is fixed at 3.57% until May 2032. This 9,200-SF apartment presents stable in-place rents as well as legitimate rental upside. The asset contains a current cap rate of 5.24% and current GRM of 11.99 and a pro-forma cap rate of 6.38% and pro-forma GRM of 10.01.
*Loan amount and terms for assumable note are subject to change. Buyer to verify. Please do not disturb tenants. Buyer to conduct their own due diligence and investigation.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$241,416
|
$26.24
|
| Other Income |
$7,764
|
$0.84
|
| Vacancy Loss |
$7,475
|
$0.81
|
| Effective Gross Income |
$241,705
|
$26.27
|
| Taxes |
$36,187
|
$3.93
|
| Operating Expenses |
$53,963
|
$5.87
|
| Total Expenses |
$90,150
|
$9.80
|
| Net Operating Income |
$151,555
|
$16.47
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $241,416 |
| Annual Per SF | $26.24 |
| Other Income | |
|---|---|
| Annual | $7,764 |
| Annual Per SF | $0.84 |
| Vacancy Loss | |
|---|---|
| Annual | $7,475 |
| Annual Per SF | $0.81 |
| Effective Gross Income | |
|---|---|
| Annual | $241,705 |
| Annual Per SF | $26.27 |
| Taxes | |
|---|---|
| Annual | $36,187 |
| Annual Per SF | $3.93 |
| Operating Expenses | |
|---|---|
| Annual | $53,963 |
| Annual Per SF | $5.87 |
| Total Expenses | |
|---|---|
| Annual | $90,150 |
| Annual Per SF | $9.80 |
| Net Operating Income | |
|---|---|
| Annual | $151,555 |
| Annual Per SF | $16.47 |
Property Facts
| Price | $2,895,000 | Apartment Style | Low-Rise |
| Price Per Unit | $289,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 5.24% | Building Size | 9,200 SF |
| Gross Rent Multiplier | 11.99 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1986 |
| Property Subtype | Apartment | Parking Ratio | 2.17/1,000 SF |
| Zoning | LARD6 | ||
| Price | $2,895,000 |
| Price Per Unit | $289,500 |
| Sale Type | Investment |
| Cap Rate | 5.24% |
| Gross Rent Multiplier | 11.99 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 9,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 2.17/1,000 SF |
| Zoning | LARD6 |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | $2,048 | - |
| 2+2 | 1 | $2,092 | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 6120-007-047 | Total Assessment | $1,440,685 |
| Land Assessment | $1,004,839 | Annual Taxes | $36,187 ($3.93/SF) |
| Improvements Assessment | $435,846 | Tax Year | 2025 |
Property Taxes
Parcel Number
6120-007-047
Land Assessment
$1,004,839
Improvements Assessment
$435,846
Total Assessment
$1,440,685
Annual Taxes
$36,187 ($3.93/SF)
Tax Year
2025
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814 W Redondo Beach Blvd
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