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Key Details
Sold Price $2,575,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,324 sqft
Price per Sqft $483
MLS Listing ID 24-436229
Sold Date 11/25/24
Bedrooms 11
Year Built 1972
Annual Tax Amount $33,750
Lot Size 0.310 Acres
Acres 0.3097
Property Description
Luca is proud to present this rare 4-unit investment opportunity in Rancho Palos Verdes. This is an A-Class Trophy location and is NOT subject to LA Rent Control and instead falls under AB-1482. The asset has an outstanding unit mix of (one) 4-bedroom/2-bathroom townhouse unit with ocean views, (one) 3-bedroom/2-bathroom townhouse unit with patio, (one) 2-bedroom/2-bathroom with ocean views, balcony and patio, and (one) 2-bedroom/1.5-bathroom townhouse unit with patio. The property was built in 1972 and features spacious units, 5,324-SF of living area and a large 13,489-SF lot. The asset is being offered at a 4.37% current cap rate and 15.96 current GRM with upside to a 5.56% pro-forma cap rate. The property contains a newer roof, new hot water heaters, new furnaces, updated garage doors and common area laundry with brand new washers & dryers. One of the units has washer/dryer hook-ups. The property is a residential asset which qualifies for residential/owner-user financing. Furthermore, there are 4 garage spaces and 4 tandem parking spaces.
Location
State CA
County Los Angeles
Area Crest
Zoning RPRM3600*
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Other
Equipment Washer, Dryer
Laundry Room, Laundry Area
Exterior
Garage Garage
Garage Spaces 12.0
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard
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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with Shield CRE, Inc.
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Terrance Scotton, Broker Associate
Broker Associate | License ID: 01707848 NMLS: 908256
Broker Associate License ID: 01707848 NMLS: 908256