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Listed by Justin McCardle • Growth Investment Group Pasade
$ 6,075,000
Est. payment /mo
New
1900 Vanderbilt Lane Redondo Beach, CA 90278
13,511 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 13,511 sqft
Price per Sqft $449
MLS Listing ID AR-25138781
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 Redondobch/Villasnorth
Zoning RBR-3
Interior
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 15.0
Pool None
Community Features Sidewalks
Building
Lot Description Lot 20000-39999 Sqft
Sewer Public Sewer