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901 N Pacific Coast

Redondo Beach, CA 90277
  • $12,000,000
  • STATUS: Active
  • ON SITE: 298 Days
  • ID#: SB23229065
UPDATED: 38 min ago
$12,000,000
  • 0
    BEDS
  • 1.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1987
County:

School Ratings & Info

Listing Agent(s): Michael Talbot of RE/MAX Estate Properties (310-378-9494)


Description

The current list price is $12,000,000 while the parking structure renovation is underway during the Spring of 2024 with an anticipated completion date in the summer. Once the project is complete, all the units are leased and new lease terms have been secured with current tenants then the price will be increased to $13,500,000 or more. (This is a value add opportunity, ideal for an owner user or investor). The seller may consider an adjusted price point for an as is offer while improvements are being completed. Owner financing maybe considered for a qualified buyer with terms to be determined for a possible long term commitment.A High traffic signalized corner located at the gateway to the beach communities of Redondo and Hermosa Beach. Easy to show lock box on second floor - call listing agent for an accompanied tour or go at your leisure from 9 to 4:30 (elevator and stair well are locked after hours).

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-10-15T10:31:20.233. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bob Kelly Team | Berkshire Hathaway Home Services Ca. Properties. Licensed in the State of California, USA.
www.bobkellyteam.com/homes/146193112
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901 N Pacific Coast Redondo Beach, CA 90277

  • Price: $12,000,000
  • Status: Active
  • On Site: 298 Days
  • Updated: 38 min ago
  • ID#: SB23229065
0
Beds
0
Baths
0
½ Baths
1.15
Acres
1987
Built
Neighborhood:
157 - S Redondo Bch W of PCH
County:
Los Angeles
Area:
157 - S Redondo Bch W of PCH
Property Description
The current list price is $12,000,000 while the parking structure renovation is underway during the Spring of 2024 with an anticipated completion date in the summer. Once the project is complete, all the units are leased and new lease terms have been secured with current tenants then the price will be increased to $13,500,000 or more. (This is a value add opportunity, ideal for an owner user or investor). The seller may consider an adjusted price point for an as is offer while improvements are being completed. Owner financing maybe considered for a qualified buyer with terms to be determined for a possible long term commitment.A High traffic signalized corner located at the gateway to the beach communities of Redondo and Hermosa Beach. Easy to show lock box on second floor - call listing agent for an accompanied tour or go at your leisure from 9 to 4:30 (elevator and stair well are locked after hours).
Exterior Features

Construction Materials FrameStucco Entry Level 1 Lot Features Corner LotIrregular LotLot Over 40000 SqftLandscapedNear ParkSprinklers TimerSprinkler SystemSloped Down Roof CompositionCopper Waterfront Features Ocean Side Of Highway

Interior Features

Building Features Elevator(s) Cooling Central Air Cooling YN Yes

Property Features

Additional Parcels YN No Building Name Herondo Plaza Business Type CommercialDentalFood & BeverageFitnessHealth ServicesMedicalProfessional/OfficeProfessional ServiceRestaurantRetail Cap Rate 3.1 Common Interest None Community Features Park Current Financing None Electric 220 Volts OtherSee Remarks Gross Scheduled Income 605441.64 Land Lease YN No Laundry Features None Lease Considered YN Yes Listing Agreement Exclusive Right To Sell Listing Terms CashCash to New LoanConventional1031 ExchangeOwner May Carry Net Operating Income 467176 Number Of Units Leased 10 Operating Expense 184197 Property Sub Type Office Security Features Fire Sprinkler SystemSmoke Detector(s) Special Listing Conditions Standard Utilities Cable AvailableElectricity AvailableElectricity ConnectedNatural Gas AvailableNatural Gas ConnectedPhone AvailablePhone ConnectedSewer ConnectedWater Connected Water Source Public Zoning RBC3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-10-15T10:31:20.233. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bob Kelly Team | Berkshire Hathaway Home Services Ca. Properties. Licensed in the State of California, USA.
 
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The Bob Kelly Team | Berkshire Hathaway Home Services Ca. Properties
8898 La Mesa Blvd.
La Mesa CA, 92042
Listing Agent(s): Michael Talbot of RE/MAX Estate Properties (310-378-9494)