$3,300,000
SOLD APR 8, 2014

2704 Vanderbilt Ln Redondo Beach, CA 90278

North Redondo Beach Neighborhood
3 Beds
2 Baths
13,572 Sq Ft
0.35 Acres

Recently Sold

$243 Per Sq Ft

2 Days on Market

About This Home

As of November 2015

This building is well-located just a few blocks from the South Bay's hub of retail: The Galleria Mall and Artesia Blvd. Also, the building is a block from Inglewood Ave. - an on-ramp to the 405 Fwy& ideal for tenants headed to work. This building has "curb appeal" for an investor and immediate rent upside -rents, at this building, have historically been "below market" due to out-of-area ownership. The tenants enjoy additional amenities of garage parking and on-site laundry facilities.

One of the South Bay's most robust rental submarkets: East of Aviation Blvd., North of Grant Ave, West of Inglewood Ave., South of Manhattan Beach Blvd. Arguably, a more stable and market insensitive rental market than closer to the Beach.

Last Agent to Sell the Property

Brice W. Head, MBA

Re/Max Commercial & Investment License #01330706 Listed on: 04/05/2013

Co-Listed By

Brian Estes

Re/Max Commercial & Investment License #01394559

Re/Max Commercial & Investment

Last Buyer's Agent

Brian Estes

Re/Max Commercial & Investment License #01394559

Re/Max Commercial & Investment

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 0.35 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
  • 2 Bathrooms

Location

  • Urban Location

Listing and Financial Details

  • Assessor Parcel Number 4082002038
  • Tax Block 20

Community Details

Overview

  • 16 Units

Building Details

  • 14 Leased Units
  • Rent Control
  • 17 Separate Electric Meters
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Electric Expense $2,928
  • Gardener Expense $1,800
  • Insurance Expense $4,000
  • Maintenance Expense $11,258
  • Trash Expense $2,928
  • Water Sewer Expense $2,928
  • New Taxes Expense $36,300
  • Gross Income $18,750
  • Net Operating Income $136,673

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0

Parking

24

Listing Details

  • CapRate: 4.14
  • Price Per Unit: 206250
  • Property Attached: Yes
  • Water Sewer Expenses: 2928.00
  • Zoning: RBR3
  • Property Type: Residential Income
  • Gardener Expense: 1800.00
  • Parcel Number: 4082002038
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 243.15

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 24.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 24.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 2928.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Urban

Lot Info

  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 15032.00
  • Lot Size Acres: 0.3450

Multi Family

  • Electric Expense: 2928.00
  • Gross Income: 18750.00
  • Gross Multiplier: 14.66
  • Gross Scheduled Income: 225029.00
  • Insurance Expense: 4000.00
  • Lot Size Area: 15032.0000 Square Feet
  • Maintenance Expense: 11258.00
  • Net Operating Income: 136673.00
  • Number Of Separate Electric Meters: 17
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 14
  • Number Of Units Total: 16
  • Operating Expense: 81671.00
  • Operating Expense Percent: 35.70
  • Rent Control: Yes
  • Total Actual Rent: 18570.00
  • Vacancy Allowance: 6685
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 36300.00
  • Tax Block: 20
  • Tax Year: 2011

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
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
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 Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2015

    Brice W. Head, MBA

    RE/MAX

    Section Image
  • Brian Estes

    Seller Co-Listing Agent in 2015

    Brian Estes

    RE/MAX

    (310) 802-2525

    1 in this area

    16 Total Sales

    Section Image

  • C

    Buyer's Agent in 2015

    Christopher Arvizu

    Christopher Arvizu

    (562) 506-4559

    5 Total Sales

    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB13020603

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Redondo Beach 90278 North Redondo Beach

2704 Vanderbilt Ln, Redondo Beach, CA

This home is located at 2704 Vanderbilt Ln, Redondo Beach, CA 90278 and is currently priced at $3,300,000, approximately $243 per square foot. This property was built in 1972. 2704 Vanderbilt Ln is a home located in Los Angeles County with nearby schools including Washington Elementary School, Adams Middle School, and Redondo Union High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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