NOT LISTED FOR SALE
15 Beds
8 Baths
5,303 Sq Ft
7,507 Sq Ft Lot

Sale Details

Date Sold: September 6, 2024

Last sale price $3,625,000 $684 Per Sq Ft

190 Days on Market

Highlights

  • Built in 1959 | Newly Remodeled
  • High Ceiling
  • Built-In Features
  • Madison Elementary School Rated A+
  • Fenced Yard
  • Air Conditioning

About This Home

As of September 2024

We are pleased to present this turnkey 7 unit apartment community located in the heart of Redondo Beach. This asset comprises an attractive unit mix of six 2-Bed/1-Bath & one 3-Bed/2-Bath. The entire property has been professionally designed, upgraded and permitted, including complete replacement of the electrical, plumbing and sewer systems, installation of air conditioning in every common area and bedroom, addition of a ~1,200 sqft ADU (highest rent in the building), new windows, kitchens, bathrooms, flooring, etc. Lease-up produced fantastic and quick results, with just one vacancy (unit F) remaining. These apartments lease FAST due to exquisite exterior and interior design, amenities like AC and in-unit laundry, fantastic outdoor spaces and location. Extremely walkable neighborhood, with restaurants, markets, breweries and local retail up-and-down surrounding blocks. NO LOCAL RENT CONTROL - subject only to AB 1482.

Last Agent to Sell the Property

Noam Srolovitz

Kape Property Management, Inc. License #02069623 Listed on: 01/17/2024

Co-Listed By

Benjamin Lester

Kape Property Management, Inc. License #02033314

Last Buyer's Agent

Anthony Granados

LPT Realty License #01964081

LPT Realty
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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959 | Newly Remodeled

Lot Details

  • 7,507 Sq Ft Lot
  • Fenced Yard
  • Sprinkler System

Interior Spaces

  • 5,303 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • High Ceiling
  • Ceiling Fan
  • French Doors
  • Security Lights

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Microwave
  • Freezer
  • Ice Maker
  • Water Line To Refrigerator
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 8 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 7 Parking Spaces
  • Assigned Parking

Outdoor Features

  • Rain Gutters

Utilities

  • Air Conditioning
  • Two cooling system units
  • Tankless Water Heater
  • Gas Water Heater
  • Cable TV Available

Community Details

  • 7 Units
  • Kape Property Management Inc. Association

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Assessor Parcel Number 4155-032-010

Property Details

Home Type

Multi-Family

Year Built

Built in 1959 | Newly Remodeled

Lot Details

7,507 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Advertising Remarks: We are pleased to present this turnkey 7 unit community located in the heart of Redondo Beach. This asset comprises an attractive mix of six 2-Bed/1-Baths & one 3- Bed/2-Bath. The entire property has been professionally designed, upgraded and permitted, including complete replacement of the electrical, plumbing and sewer systems, installation of air conditioning in every common area and bedroom, addition of ~1,200 sq ft ADU (highest rent in building), brand new windows, kitchens, bathrooms, flooring, etc. Lease-up produced fantastic and quick results, with just one vacancy (unit F) remaining. These units lease FAST due to exquisite exterior & interior design, amenities like AC and in-unit laundry, fantastic outdoor spaces and location. Extremely walkable neighborhood, with restaurants, markets, bars and retail up-and-down surrounding blocks. NO LOCAL RENT CONTROL - subject to AB 1482.
  • Building Permit: Yes
  • Living Area: 5303
  • Lot Acreage: 0.1723
  • Probate: No
  • Property Condition: Updated/Remodeled, New Construction
  • Stories: 2
  • Year Built: 1959
  • State Abbrv: CA
  • Special Features: NewHome
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Built-In Gas, Cooktop - Gas, Microwave, Oven, Oven-Gas, Gas
  • Bedrooms: 15
  • Laundry: In Unit, Inside, Laundry Closet Stacked
  • Total Bathrooms: 8.00
  • Equipment: Built-Ins, Cable, Ceiling Fan, Dryer, Dishwasher, Freezer, Garbage Disposal, Microwave, Ice Maker, Gas Or Electric Dryer Hookup, Water Line to Refrigerator, Stackable W/D Hookup, Washer, Refrigerator, Range/Oven
  • Price Per S Q F T: 718.46

Exterior Features

  • Other Features: High Ceilings (9 Feet+), French Doors, Energy Efficient, Rain Gutters, Sprinkler System
  • Other Structures: None

Garage/Parking

  • Parking Garage: Assigned
  • Total Parking: 7

Utilities

  • Water Heater: Gas, Tankless
  • Cooling: Air Conditioning, Ceiling Fan, Dual
  • Heating: Combination
  • Water Heaters: Yes

Condo/Co-op/Association

  • Management Company: Kape Property Management Inc.
  • Mgmt Co Phone: 3109127808|

Lot Info

  • Assessor Parcel Number: 4155-032-010
  • Lot Description: Back Yard, Exterior Security Lights, Fenced Yard, Gutters, Yard
  • Lot Size Area: 7507

Rental Info

  • Rent Control: No
  • Tenant Pays: Electricity, Gas

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
  • Gross Rent Multiplier: 16.05
  • Number Of Units: 7
  • Type Of Units: Apartments

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 17, 2024
Closed on
Aug 16, 2024
Sold by
Mathews Clay Llc
Bought by
Seller's Agent
Noam Srolovitz
Kape Property Management, Inc.
Buyer's Agent
Anthony Granados
LPT Realty
List Price
$3,810,000
Sold Price
$3,625,000
Premium/Discount to List
-$185,000
-4.86%
Views
35

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,650,000
Outstanding Balance
$1,617,015
Interest Rate
6.78%
Mortgage Type
New Conventional

Purchase Details

Listed on
Oct 21, 2022
Closed on
Nov 9, 2022
Sold by
Margie Harness Living Trust
Bought by
Mathews Clay Llc
Seller's Agent
Scott Briscoe
Estate Properties
Buyer's Agent
Noam Srolovitz
Kape Property Management, Inc.
List Price
$2,189,000
Sold Price
$1,810,000
Premium/Discount to List
-$379,000
-17.31%
Views
9

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
50.83%
Original Mortgage
$1,500,000
Interest Rate
6.61%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 1, 2022
Sold by
Harness Margie
Bought by
Margie Harness Living Trust and Harness
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$3,625,000 Chicago Title Company
Mathews Clay Llc $1,810,000 Fidelity National Title
Margie Harness Living Trust -- None Listed On Document
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,650,000
Previous Owner Mathews Clay Llc $1,500,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/06/2024 09/06/24 Sold $3,625,000 -4.9% $684 / Sq Ft
07/25/2024 07/25/24 Pending -- -- --
06/21/2024 06/21/24 For Sale $3,810,000 +5.1% $718 / Sq Ft
04/10/2024 04/10/24 Off Market $3,625,000 -- --
03/08/2024 03/08/24 Price Changed $3,810,000 -7.0% $718 / Sq Ft
02/21/2024 02/21/24 Price Changed $4,095,000 -5.9% $772 / Sq Ft
01/17/2024 01/17/24 For Sale $4,350,000 +140.3% $820 / Sq Ft
12/29/2022 12/29/22 Sold $1,810,000 -17.3% $439 / Sq Ft View Prior Sale
10/21/2022 10/21/22 For Sale $2,189,000 -- $531 / Sq Ft
Source: The MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2026 $43,085 $3,697,500 $1,479,000 $2,218,500
2025 $43,085 $3,625,000 $1,450,000 $2,175,000
2024 $22,505 $1,846,200 $1,530,000 $316,200
2023 $22,102 $1,810,000 $1,500,000 $310,000
2022 $10,782 $774,935 $487,460 $287,475
2021 $10,561 $759,741 $477,902 $281,839
2019 $10,377 $737,209 $463,728 $273,481
2018 $10,061 $722,755 $454,636 $268,119
2016 $9,688 $694,691 $436,983 $257,708
2015 $9,522 $684,257 $430,420 $253,837
2014 $9,436 $670,854 $421,989 $248,865
Source: Public Records

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Map

Source: The MLS

MLS Number: 24-348501

The MLS
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