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    500 N Helberta Avenue

    Redondo Beach, CA 90277
    • $4,650,000
    • STATUS: Active
    • ON SITE: 51 days
    • ID#: SB21059439
    UPDATED: 76 min ago
    $4,650,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,305
      SQFT
    • $1,080
      $/SQFT
    Type:
    Multi-Family
    Built:
    1935
    County:

    School Ratings & Info

    Description

    500 N Helberta Ave is an 8 unit property and includes a stand alone 2BR/1BA home. Excellent unit mix: (3) 2 Bedrooms/1 Bathroom, (4) 1 Bedroom/1 Bathroom & (1) Studio. All units have been meticulously updated and renovated. New kitchens: shaker cabinetry, quartz counters, designer tile backsplashes and most have new stainless steel appliances and real marble floors. Bathrooms: new tub and tiled shower enclosures, new vanities, lighted mirrors and new fixtures. All units have new hardwood laminate flooring, have been freshly painted with modern color schemes and have private outdoor space. Select units have ocean views. All new plumbing and electrical systems. All new windows. Each unit has its own water heater (7 of 8 are brand new). Onsite laundry (machines owned) and secured garage parking. One garage used by the owner could be rented for additional income. The property is ideally located just a few blocks to the beach, Redondo Beach Pier, marina and Seaside Lagoon. Its close to a number of restaurants and walking distance to Whole Foods and Starbucks. Also walking distance to award winning schools of all levels. Every unit is occupied by a great tenant at solid rental rates. The current/actual gross annual income is $255,840. With a real NOI of $173,301 the property is priced at an above market 3.75%+ CAP. Its a turnkey asset perfect for an exchange buyer or anyone looking to add a well located asset in great condition to their portfolio.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-13T17:39:28.44. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/115358140
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    500 N Helberta Avenue Redondo Beach, CA 90277

    • Price: $4,650,000
    • Status: Active
    • Updated: 76 min ago
    • ID#: SB21059439
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    4,305
    SQFT
    $1,080
    $/SQFT
    1935
    Built
    Neighborhood:
    155 - S Redondo Bch N of Torrance Bl
    County:
    Los Angeles
    Area:
    155 - S Redondo Bch N of Torrance Bl
    Property Description
    500 N Helberta Ave is an 8 unit property and includes a stand alone 2BR/1BA home. Excellent unit mix: (3) 2 Bedrooms/1 Bathroom, (4) 1 Bedroom/1 Bathroom & (1) Studio. All units have been meticulously updated and renovated. New kitchens: shaker cabinetry, quartz counters, designer tile backsplashes and most have new stainless steel appliances and real marble floors. Bathrooms: new tub and tiled shower enclosures, new vanities, lighted mirrors and new fixtures. All units have new hardwood laminate flooring, have been freshly painted with modern color schemes and have private outdoor space. Select units have ocean views. All new plumbing and electrical systems. All new windows. Each unit has its own water heater (7 of 8 are brand new). Onsite laundry (machines owned) and secured garage parking. One garage used by the owner could be rented for additional income. The property is ideally located just a few blocks to the beach, Redondo Beach Pier, marina and Seaside Lagoon. Its close to a number of restaurants and walking distance to Whole Foods and Starbucks. Also walking distance to award winning schools of all levels. Every unit is occupied by a great tenant at solid rental rates. The current/actual gross annual income is $255,840. With a real NOI of $173,301 the property is priced at an above market 3.75%+ CAP. Its a turnkey asset perfect for an exchange buyer or anyone looking to add a well located asset in great condition to their portfolio.
    Exterior Features

    Number Of Separate Electric Meters 8 Open Parking Spaces 5 Parking Total 12 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 1 Common Wall

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 3.75 Common Interest None Community Features Suburban Electric Expense 0 Fuel Expense 0 Garage YN Yes Gross Income 254040 Gross Scheduled Income 254040 Insurance Expense 0 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To Existing LoanCash To New Loan1031 Exchange Net Operating Income 174210 New Construction YN No New Taxes Expense 0 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 1 Operating Expense 72935 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning Rbr-3

    Listing provided courtesy of Brian Estes of Re/Max Commercial & Investment


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-13T17:39:28.44. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
     
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