A rare investment opportunity in the heart of South Redondo. This 6-unit apartment property is situated within blocks of the beach, Redondo Union High, Parras Middle School, and restaurants and shopping along Torrance Blvd and PCH. The units are divided evenly between two buildings: 116 N Helberta Ave on the west side and 812 Spencer St on the east side.
Each unit offers 2 bedrooms and 1 bathroom, with the ground-floor residences enjoying the most generous square footage and common patio space between the buildings. The property features (6) 1-car garages, along with driveway apron space accommodating 6+ additional vehicles--a valuable amenity in this coastal location. Investors may consider the soft-story garages for conversion to ADU space. There is a shared coin-op laundry room on the ground floor of the Helberta building.
Currently generating $149,520 in annual gross income, the property offers significant upside with a proforma of $237,600, representing a 37% rent growth potential after large-scale renovations.
With strong in-place income, excellent parking, and compelling rental upside, this offering presents investors with both immediate returns and long-term value in a highly desirable Redondo Beach neighborhood.
