Neighborhood: 155 - S Redondo Bch N Of Torrance Bl
Matthews is pleased to present 706 N. Prospect Avenue, a 7-unit, individually parceled condominium building in Redondo Beach, CA. This is an opportunity for an investor to purchase a multifamily property in a prime South Bay location, minutes from world-class beaches, parks, restaurants, schools, and boutiques. Located 20 miles from Downtown Los Angeles and 7 miles south of LAX, 706 N. Prospect offers residents the best of coastal living with big-city amenities and convenient access to the 405 Freeway. Nearby attractions include Redondo Beach Pier, SEA Lab marine conservation center, South Bay Galleria, Redondo Beach Performing Arts Center, and Hopkins Wilderness Park.The property consists of a desirable unit mix of (1) three-bedroom/three-bathroom, (5) two-bedroom/one and a half-bathroom, and (1) one-bedroom/one-bathroom units with an average unit size of 1,216 SF. Built in 1980, the property has had 3 of the 7 units renovated in 2021/2022. The owner is in the process of voluntarily completing a Soft-Story Retrofit for the property. This offering is ideal for an investor to capitalize on the tight rental market and significant mark-to-market upside or to sell off the condos individually.
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