124-128 Palos Verdes Blvd. | Redondo Beach, CA | 90277

Overview

In January 2023, we closed on this 10-unit, value-addopportunity in Hollywood Riviera. With an unbeatable location and ocean views from all units, the only missing ingredients were professional management and a strategic plan. In a short time, we have beautifully renovated two units, increasing rents more than 50%. The property valuation has already increased by $1 million in just 6 months of ownership.

Results

After six months ownership, we have increased total rental income by 18%, and the property value went from $5.2 to $6.2 million. We have exceeded pro forma rents on two modernized units, with eight more to go. While the asset could soon be traded for a sizeable gain, this is a core asset and long-term hold.