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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$6,075,000

Est. payment - /mo

0.52 Acres Lot

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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25138781

HOA Y/N No

Year Built 1964

Lot Size 0.517 Acres

Property Sub-Type Apartment

Property Description

First time on the market! 1900 & 1904 Vanderbilt Ln, a unique and rare value-add multi-family investment opportunity situated in the heart of North Redondo Beach, a highly desirable area within the South Bay region of Los Angeles County. Offered for the first time in approximately half a century, this maintained apartment complex, known as the Vanderbilt Apartments, comprises five separate buildings located on two generous parcels, enhanced by landscaping that provides both privacy and curb appeal. The property features a desirable unit mix of spacious, well-designed apartments, which appeal to a broad tenant base in one of Southern California's most sought-after rental markets. Key features of this multi-family investment property include a variety of unit sizes, private garages, refreshed kitchen cabinets, laminate and tile flooring, and patio areas. The buildings are located on approximately 22,000 SF lot, comprising two parcels individually metered for gas and electricity. The property has a functional layout, with 16 units (+1 n/c) in 5 separate structures, including two freestanding units, one detached, and one over garages. It offers 15 garage spaces with possible ADU potential (Buyer to Verify). North Redondo Beach is known for its strategic location, less than 20 miles from Los Angeles and its proximity to Los Angeles International Airport (LAX), as well as its proximity to the South Bay Galleria, which offers a wide array of shopping, dining, and entertainment options. The area also benefits from convenient access to major transportation routes, including freeways, and boasts a mix of residential streets, urban parks, and local charm. Its proximity to the coastline and beaches, including the Redondo Beach Pier and the Hermosa Pier, and its location within the Redondo Beach Unified School District, which includes highly regarded schools like Birney Elementary, Adams Middle School, and Redondo Union High School, make it a highly desirable location. This property presents an exceptional value-add investment opportunity, being on the market for the first time in over 45 years. Redondo Beach's strong rental market, desirable location, and the South Bay area's history of strong property value appreciation, combined with a significant rental upside (estimated at +/-52%) and its status as a generational asset with strong fundamentals, position it for substantial appreciation and income growth in an unbeatable Southern California coastal setting.

Location

State CA

County Los Angeles

Area 151 - N Redondo Bch/Villas North

Zoning RBR-3

Interior

Fireplace No

Laundry Common Area

Exterior

Garage Spaces 15.0

Garage Description 15.0

Pool None

Community Features Sidewalks

Total Parking Spaces 20

Private Pool No

Building

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 4156006027

Energy Description 5056.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Justin McCardle • Growth Investment Group Pasade • 310-606-0192

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1900 Vanderbilt LN Redondo Beach, CA 90278