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2615 Rockefeller, Redondo Beach, California 90278, Redondo Beach, 90278 - bed, bath

2615 Rockefeller, Redondo Beach, California 90278 home-pic-0
ACTIVE$1,985,000
2615 Rockefeller, Redondo Beach, California 90278
0Bed
0Bath
3,507Sqft
327,004,928Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Investment Location: Located in North Redondo Beach, a highly sought-after rental submarket with historically low vacancy rates, ensuring consistent tenant demand and strong market drivers.
Top Cons:
Age of Property: Built in 1954, the 70-year-old structure, despite upgrades, may present future maintenance challenges or require significant capital expenditures for major system replacements (e.g., plumbing, electrical, roof) not explicitly detailed as new.

Compared to the nearby listings

Price:$1.99M vs avg $1.65M (+$331,075)86%
Size:3,507 sqft vs avg 2,313 sqft79%
Price/sqft:$566 vs avg $67036%

More Insights

Built in 1954 (71 years old).
Condition: The property was built in 1954, making it 70 years old. While the listing states 'thoughtfully upgraded' and 'well-maintained,' the images reveal a mixed condition. Some units feature engineered hardwood flooring and more recently updated kitchens (white shaker cabinets, black appliances) and bathrooms (gray vanity, subway-style tile). However, other units show significantly dated kitchens with older wooden cabinets and laminate countertops, and bathrooms with basic white vanities and older tile. All units appear to have basic, older light fixtures and popcorn ceilings. The overall impression is that the property has undergone periodic updates rather than a comprehensive, recent renovation, leaving many components functional but showing signs of being outdated. This aligns with the 'Fair' category, indicating an aged but maintained property requiring minor updates or repairs to meet modern standards.
Year Built
1954
Close
-
List price
$1.99M
Original List price
$2.15M
Price/Sqft
$566
HOA
-
Days on market
-
Sold On
-
MLS number
SB25228942
Home ConditionFair
Features
Patio
View-

About this home

Rare North Redondo Beach Multifamily Investment Opportunity An exceptional four-unit multifamily asset has just become available in one of Redondo Beach’s most sought-after neighborhoods a property that hasn’t been on the market in decades. Unit Mix: • One freestanding 3-bedroom, 1-bath home with private yard, washer/dryer hookups in unit, engineered hardwood floors and so much more. • Three 2-bedroom, 1-bath units, each featuring engineered hardwood floors, washer/dryer hookups in units (lower unit has a private yard). Highlights: • All units are well-maintained, thoughtfully upgraded and have great rentability. • Strong tenant appeal with in-unit laundry, outdoor spaces, garages, and engineered hardwood flooring. • Ample street and nearby parking. • Long-term ownership with pride of care. Market Drivers: • Located in North Redondo Beach, one of the most desirable rental submarkets in the South Bay. • Historically low vacancy rates, ensuring consistent rental demand. • A short drive to beaches, restaurants, freeways, tech corridors, and major employment hubs. • Rare combination of stable cash flow and long-term appreciation potential. With decades since its last sale, this is a once-in-a-generation opportunity to secure a cornerstone multifamily asset in one of Southern California’s strongest rental markets. Unit C will be delivered Vacant and will be vacated by 10/31/2025.

Nearby schools

8/10
Washington Elementary School
Public,•K-5•0.5mi
9/10
Birney Elementary School
Public,•K-5•0.8mi
8/10
Jefferson Elementary School
Public,•K-5•1.3mi
8/10
Adams Middle School
Public,•6-8•0.2mi
8/10
Parras (Nick G.) Middle School
Public,•6-8•2.0mi
8/10
Redondo Union High School
Public,•9-12•2.2mi
Condition Rating
Fair
The property was built in 1954, making it 70 years old. While the listing states 'thoughtfully upgraded' and 'well-maintained,' the images reveal a mixed condition. Some units feature engineered hardwood flooring and more recently updated kitchens (white shaker cabinets, black appliances) and bathrooms (gray vanity, subway-style tile). However, other units show significantly dated kitchens with older wooden cabinets and laminate countertops, and bathrooms with basic white vanities and older tile. All units appear to have basic, older light fixtures and popcorn ceilings. The overall impression is that the property has undergone periodic updates rather than a comprehensive, recent renovation, leaving many components functional but showing signs of being outdated. This aligns with the 'Fair' category, indicating an aged but maintained property requiring minor updates or repairs to meet modern standards.
Pros & Cons

Pros

Prime Investment Location: Located in North Redondo Beach, a highly sought-after rental submarket with historically low vacancy rates, ensuring consistent tenant demand and strong market drivers.
Diverse & Appealing Unit Mix: Features a desirable unit mix (one 3-bed, three 2-bed) with strong tenant appeal due to in-unit laundry, private outdoor spaces (for some units), garages, and engineered hardwood flooring.
Well-Maintained & Upgraded: The property is described as well-maintained and thoughtfully upgraded, reflecting long-term ownership pride and potentially reducing immediate capital expenditure for a new owner.
Value-Add Opportunity (Vacancy): Unit C will be delivered vacant by 10/31/2025, providing an immediate opportunity for a new owner to set market-rate rent or implement strategic upgrades for increased rental income.
Long-Term Appreciation Potential: Positioned as a cornerstone multifamily asset in a strong Southern California rental market, offering stable cash flow and significant long-term appreciation potential.

Cons

Age of Property: Built in 1954, the 70-year-old structure, despite upgrades, may present future maintenance challenges or require significant capital expenditures for major system replacements (e.g., plumbing, electrical, roof) not explicitly detailed as new.
Recent Price Reduction: The property has undergone a significant price reduction from its original listing, which could suggest initial overpricing or market resistance, potentially impacting buyer confidence or indicating a need for further negotiation.
Limited Dedicated Parking Details: While 'garages' and 'ample street and nearby parking' are mentioned, the exact number of dedicated parking spaces per unit is not specified, which can be a critical factor for tenants in a multi-unit property in a desirable area.

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