B
Seller's Agent in 2015
Brice W. Head, MBA
RE/MAX
2704 Vanderbilt Ln Redondo Beach, CA 90278
North Redondo Beach Neighborhood
3
Beds
3
Baths
13,572
Sq Ft
14,985
Sq Ft Lot
About This Home
As of November 2015Beautifully-upgraded & exceptionally well-managed asset with the added cache of a Redondo Beach address. The units have been extensively rehabbed to a very high-level of 'fit and finish'. Too many improvements to mention; however, the interior capital investment has totaled approximately $300K, while the exterior has totaled approximately $90K.
The tenants enjoy a secured courtyard, washers/dryers in some units, as well as secured, garage parking. The building is separately metered for electric & there is an on-site laundry room with 4 machines - in addition to machines inside each unit.
These are the closest thing to condo quality apartments that exist in Redondo Beach. The Azure Apartments are the epitome of a turn-key investment. This asset is a pride of ownership addition to one' s portfolio - a perfect upleg for an exchange buyer. It will serve as a virtually passive investment for an investor looking for a high quality & well run multi-family property.
The building is located in a highly accessible location unlike other, land-locked Redondo neighborhoods, near Palos Verdes. The asset is 2 minutes to the 405 Fwy attracting a tenant base working in the surrounding South Bay industries: aerospace, oil, gas, tech and of course, The Port of LA.
Last Agent to Sell the Property
Brice W. Head, MBA
Re/Max Commercial & Investment License #01330706 Listed on: 09/24/2015
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1972
Lot Details
- 0.34 Acre Lot
- Two or More Common Walls
Parking
- 24 Car Garage
- Parking Available
- Assigned Parking
Home Design
- 13,572 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Listing and Financial Details
- Legal Lot and Block 12 / 20
- Assessor Parcel Number 4082002038
Community Details
Overview
- 16 Units
Building Details
- 16 Leased Units
- 17 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $2,500
- Insurance Expense $5,213
- Professional Management Expense $14,718
- Trash Expense $2,500
- Water Sewer Expense $2,500
- New Taxes Expense $74,906
- Gross Income $33,375
- Net Operating Income $264,183
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/10/2015 11/10/15 | Sold | $6,650,000 | -0.7% | $490 / Sq Ft | |
| 10/05/2015 10/05/15 | Pending | -- | -- | -- | |
| 09/24/2015 09/24/15 | For Sale | $6,700,000 | +103.0% | $494 / Sq Ft | |
| 04/08/2014 04/08/14 | Sold | $3,300,000 | 0.0% | $243 / Sq Ft | View Prior Sale |
| 02/13/2013 02/13/13 | Pending | -- | -- | -- | |
| 02/11/2013 02/11/13 | For Sale | $3,300,000 | -- | $243 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| 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 |
|---|---|---|---|---|
| 2025 | $90,250 | $7,872,248 | $2,042,048 | $5,830,200 |
| 2024 | $90,250 | $7,717,891 | $2,002,008 | $5,715,883 |
| 2023 | $90,028 | $7,566,560 | $1,962,753 | $5,603,807 |
| 2022 | $88,844 | $7,418,197 | $1,924,268 | $5,493,929 |
| 2021 | $86,795 | $7,272,743 | $1,886,538 | $5,386,205 |
| 2019 | $85,166 | $7,083,999 | $1,830,583 | $5,253,416 |
| 2018 | $83,055 | $6,945,627 | $1,794,690 | $5,150,937 |
| 2016 | $78,627 | $6,650,000 | $1,725,000 | $4,925,000 |
Source: Public Records
Agents Affiliated with this Home
-
-
Brian Estes
Seller Co-Listing Agent in 2015
Brian Estes
RE/MAX
(310) 802-2525
1 in this area
16 Total Sales
-
Christopher Arvizu
C
Buyer's Agent in 2015
Christopher Arvizu
Christopher Arvizu
(562) 506-4559
7 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB15210846
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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