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1318 Agate Street A, Redondo Beach, California 90277, Redondo Beach, 90277 - bed, bath

1318 Agate Street A, Redondo Beach, California 90277 home-pic-0
ACTIVE$4,900,000
1318 Agate Street A, Redondo Beach, California 90277
0Bed
0Bath
8,720Sqft
11,213Lot
Year Built
1963
Close
-
List price
$4.9M
Original List price
$5.3M
Price/Sqft
$562
HOA
-
Days on market
-
Sold On
-
MLS number
SB25088131
Home ConditionFair
Features
Deck
Patio
View-

About this home

We found 3 Cons,6 Pros. Rank: price - $4.90M(50th), sqft - 8720(50th), beds - undefined(50th), baths - undefined(50th).

Turn key 9-unit apartment complex for sale in the heart of Beryl Heights, Redondo Beach. The property is beautifully maintained with potential to add value through interior renovations. 1318 Agate St consists of 9 garden style apartment units across three buildings in the heart of Beryl Heights, Redondo Beach. The front unit is a stand-alone townhouse boasting three bedrooms and two and a half bathrooms. It has a full kitchen with dining area with a living room separated by a fireplace, in unit washer/dryer, exclusive two car garage with private driveway, and a fenced deck. The other two buildings have five spacious two bedroom-two bathroom units and two large two bedroom-one bathroom units. Two of the units have been renovated, proving the market. Each unit opens up to a beautiful courtyard. There is on-site laundry and enclosed garages with storage for the residents. The property is well-maintained and beautifully located. With the Pacific Ocean only one mile away, 1318 Agate St is primely located across the street from a grocery store, a dog park, medical offices and many retail establishments. Residents can walk to shops, have access to local freeways, and enjoy the local pier and surrounding beach communities.

Nearby schools

8/10
Towers Elementary School
Public,•K-5•0.3mi
8/10
Victor Elementary School
Public,•K-5•1.2mi
9/10
Anza Elementary School
Public,•K-5•1.7mi
9/10
Alta Vista Elementary School
Public,•K-5•1.9mi
9/10
Tulita Elementary School
Public,•K-5•2.4mi
9/10
Seaside Elementary School
Public,•K-5•2.7mi
8/10
Riviera Elementary School
Public,•K-5•3.4mi
8/10
Bert M. Lynn Middle School
Public,•6-8•1.0mi
8/10
Jefferson Middle School
Public,•6-8•2.1mi
7/10
Calle Mayor Middle School
Public,•6-8•3.0mi
8/10
Edward J. Richardson Middle School
Public,•6-8•3.3mi
9/10
West High School
Public,•9-12•1.0mi
9/10
South High School
Public,•9-12•3.3mi

Price History

Date
Event
Price
10/14/09
Sold
$2,775,000
10/19/07
Sold
$2,500,000
Condition Rating
Fair
The property, built in 1963, is over 60 years old. While the exterior and common areas appear well-maintained, and two of the nine units have been renovated with modern kitchens (stainless steel appliances, white cabinetry) and updated bathrooms, the majority of the units (7 out of 9) still require interior renovations to maximize value. The description explicitly mentions 'potential to add value through interior renovations' for the unrenovated units. The age of the building also suggests that major systems, despite being maintained, are likely older and may require future capital expenditures, aligning with the 'Fair' criteria of an aged but maintained property where major components are functional but show signs of being outdated, and minor to substantial updates are needed across the majority of units.
Pros & Cons

Pros

Great Schools: Elementary School: Alta Vista Elementary School (9/10). High School: West High School (9/10).
Prime Coastal Location: Situated in the desirable Beryl Heights of Redondo Beach, just one mile from the Pacific Ocean, offering residents easy access to beaches, local pier, and a vibrant coastal lifestyle.
Exceptional Walkability & Amenities: The property boasts a highly convenient location directly across from a grocery store, dog park, medical offices, and various retail establishments, enhancing tenant appeal and daily convenience.
Multi-Unit Investment Opportunity: A turn-key 9-unit apartment complex across three buildings provides diversified income streams and economies of scale, making it an attractive investment for stable cash flow.
Value-Add Potential: Clear opportunity to increase rental income and property value through interior renovations, with two units already updated demonstrating market demand for modernized spaces.
Diverse Unit Mix & On-Site Amenities: Features a unique stand-alone townhouse (3 bed/2.5 bath) with private garage and deck, alongside spacious 2-bed/2-bath and 2-bed/1-bath units, complemented by on-site laundry, enclosed garages, and a beautiful courtyard.

Cons

Age of Construction: Built in 1963, the property is over 60 years old, which may lead to higher maintenance costs and potential future capital expenditures for aging infrastructure like plumbing, electrical systems, or roofing, despite being 'beautifully maintained'.
Required Capital for Value-Add: While offering value-add potential, realizing maximum rental income and property appreciation will necessitate additional capital investment for interior renovations on the un-renovated units post-acquisition.
Significant Price Reduction: The property has undergone a substantial price reduction from an original list price of $5.3 million to $4.9 million, which could indicate initial overpricing or challenges in attracting buyers at the higher valuation.

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