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6164 S Pacific Coast Hwy, Redondo Beach, California 90277, Redondo Beach, 90277 - bed, bath

6164 S Pacific Coast Hwy, Redondo Beach, California 90277 home-pic-0
ACTIVE$4,600,000
6164 S Pacific Coast Hwy, Redondo Beach, California 90277
0Bed
0Bath
6,856Sqft
7,939Lot
Year Built
1969
Close
-
List price
$4.6M
Original List price
$4.6M
Price/Sqft
$671
HOA
-
Days on market
-
Sold On
-
MLS number
SB25024965
Home ConditionGood
Features
ViewNeighborhood

About this home

We found 3 Cons,6 Pros. Rank: price - $4.60M(50th), sqft - 6856(50th), beds - undefined(50th), baths - undefined(50th).

Own a piece of the the Hollywood Riviera with this beautiful, well maintained income property. Rare opportunity. Three of the apartments have been re modeled and one is being done now. Located in the highly sought after and vibrant community of Hollywood Riviera, it has a Redondo Beach mailing address and is actually in the city of Torrance. 8 units consist of two 1BR/1BA and six 2BR/2BA. Present CAP is .033%, proforma is 044%. This building is an easy walk to the Hollywood Riviera Village and the beach. Miles of surfing beaches; walking, biking, jogging paths and gorgeous California coastline. Redondo Beach Pier and Marina is a short distance. Located among $million+ homes and condos, fine dining, retail and entertainment. In the Torrance school system, there are several schools nearby. Easy access to 405 & 110 Fwy, LAX and LA Harbor. 11 subterranean parking spaces in the garage with extra storage for each unit, supply storage, a laundry room and a stairway to the courtyard entry. PLEASE DO NOT GO ON THE PROPERTY OR DISTURB OCCUPANTS. These notices are the rules of entry per CA regulations: https://tinyurl.com/VistaSIRRulesofEntry

Nearby schools

9/10
Tulita Elementary School
Public,•K-5•0.4mi
8/10
Riviera Elementary School
Public,•K-5•0.8mi
10/10
Montemalaga Elementary School
Public,•K-5•1.9mi
8/10
Edward J. Richardson Middle School
Public,•6-8•1.0mi
9/10
Palos Verdes Intermediate School
Public,•6-8•3.3mi
9/10
South High School
Public,•9-12•1.0mi
8/10
Palos Verdes High School
Public,•9-12•3.3mi

Price History

Date
Event
Price
03/02/22
Sold
$4,200,000
Condition Rating
Good
Built in 1969, this income property has undergone significant recent renovations in three of its eight units, with a fourth currently in progress. The renovated units feature modern kitchens with white shaker-style cabinets, dark countertops, mosaic tile backsplashes, and functional white appliances. Bathrooms in these units are updated with contemporary vanities, fixtures, and wood-look laminate flooring. While some older elements, such as a tiled tub/shower combo in one unit, indicate inconsistent renovation levels across all units, the overall property is described as 'well maintained.' The recent updates make the renovated units move-in ready, aligning with the 'Good' criteria for properties with significant recent updates, despite the underlying age of the building and potential for future capital expenditures on major systems.
Pros & Cons

Pros

Great Schools: Elementary School: Montemalaga Elementary School (10/10). Middle School: Palos Verdes Intermediate School (9/10). High School: South High School (9/10).
Premier Coastal Location: Situated in the highly desirable Hollywood Riviera, offering walkability to the beach, village amenities, and proximity to upscale dining, retail, and recreational activities.
Strong Income Potential & Unit Mix: An 8-unit income property with a favorable unit mix (2x 1BR/1BA, 6x 2BR/2BA) and a promising proforma CAP rate of 0.044%, indicating significant income growth potential.
Recent Unit Renovations: Three units have been recently remodeled, with a fourth currently undergoing renovation, minimizing immediate capital expenditure for a new owner and enhancing tenant appeal.
Comprehensive On-Site Amenities: Features 11 subterranean parking spaces, individual unit storage, a dedicated laundry room, and supply storage, providing convenience and value for tenants.
Access to Top-Rated Schools & Commuter Routes: Located within the highly-regarded Torrance school system and offers excellent freeway access (405 & 110), LAX, and LA Harbor, appealing to a broad tenant base.

Cons

Property Age: Built in 1969, the property's age suggests potential for future capital expenditures on major systems (e.g., roof, plumbing, electrical) despite recent unit remodels.
Low Current Capitalization Rate: The present CAP rate of 0.033% is relatively low, implying that immediate cash flow may be limited, and the investment relies heavily on achieving the proforma income.
City/Mailing Address Discrepancy: While benefiting from Torrance schools, the 'Redondo Beach mailing address' while being 'actually in the city of Torrance' could lead to minor confusion or perception differences for some prospective tenants or buyers.

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