124 Palos Verdes Boulevard, Redondo Beach, CA 90277

Property listed by TR Wealth Management Inc., William Mulkey 310-919-7554

$7,500,000

TR WEALTH MANAGEMENT, INC. is pleased to present this rare opportunity to acquire a 10-unit trophy multifamily asset located in the highly desirable South Redondo Beach / Hollywood Riviera submarket. The property is two separate APN (Parcel) with 5 units each forming a central courtyard. The addresses are 124-128 Palos… Read More Verdes Blvd. Perched in a premier coastal setting, the property offers ocean views, offering a generational investment that attracts tenant demand. There are 10 Garages and 10 tandem spaces. The desirable unit mix of 9 large two-bedroom, one-bathroom & 1 2 bedroom 2 bathroom units averaging 975 square feet, providing spacious & functional layouts. With $800,000 in capital improvements, including fully remodeled interiors, upgraded plumbing and electrical systems, new subpanels, modern appliances, and extensive interior and exterior enhancements—delivering a turnkey investment with minimal deferred maintenance. The property has 8 of 10 units remodeled as new and has future upside with renovations for 2 units and stabilization of the rents to market value. The price is supported by a conservative expense ratio and efficient management. A RUBS program is in place & tenants pay gas for hot water heater in units. The asset is not subject to local rent control, providing investors with flexibility to capture future rent growth in a strong and stable rental market. AB1482 State Rent Control only. Located just minutes from Riviera Village, tenants benefit from immediate access to premier dining, retail, and coastal amenities, as well as proximity to the Redondo Beach coastline, parks, and recreation. The property also offers convenient connectivity to Pacific Coast Highway and major South Bay employment centers, including Torrance, El Segundo, and the greater aerospace and technology corridor. Positioned within a high-income coastal community characterized by limited multifamily supply and strong historical appreciation, this offering presents a unique opportunity to acquire an irreplaceable asset with both stable in-place cash flow and long-term upside. Additional value-add potential exists through the possible conversion of two garage spaces into accessory dwelling units (ADUs). This is an ideal acquisition for investors seeking a high-quality, low-maintenance coastal asset in one of Southern California’s most supply-constrained and desirable rental markets. Read Less

Listing Snapshot

Days Online

Last Updated

Apr 30, 2026

Property Type

Apartment

Lot Size

0.18 Acres

Year Built

1958

MLS Number

SB26088593

Additional Details

Appliances & Equipment

Dishwasher, ElectricCooktop, ElectricOven, FreeStandingRange, GasOven, GasWaterHeater, RangeHood, VentedExhaustFan

Building

Built in 1958, 2 buildings, 2 stories, Levels: MultiSplit, Entry level: 1, Entry location: PV Blvd, Construction Materials: Drywall, Stucco

Community

StreetLights, Sidewalks

Cooling

None

Doors

SlidingDoors

Expenses

Electric: $329, Fuel: $382, Gardener: $2,400, Insurance: $12,188, Maintenance: $6,552, Operating: $134,460, Trash: $7,224, Water/Sewer: $6,100, Other Expense: $382

Exterior Features

Lighting, RainGutters

Fireplaces

FamilyRoom

Foundation

Raised

Garage

10 spaces

Heating

FloorFurnace, WallFurnace

Home Owner's Association

Association Fee: $0

Income

Gross Income: $450,264, Gross ScheduledIncome: $450,264, Net Operating Income: $302,296

Interior Features

CeilingFans, CrownMolding, OpenFloorplan, Pantry, RecessedLighting, Unfurnished

Laundry

Stacked

Lot

0.1826 acres, ZeroToOneUnitAcre

Parking

10 open parking spaces, 20 total parking spaces, Garage, Tandem

Pool

None

Property

UpdatedRemodeled, Catalina, CityLights, Coastline, Water

Roof

Composition, Shingle

Security Features

CarbonMonoxideDetectors, SmokeDetectors

Sewer

PublicSewer

Taxes

Additional parcels description:, Parcel Number: 7514001005, Tax Block: H, Lot: 7

Tenant Pays

CableTv, Electricity, Gas, Sewer, TrashCollection, Water

Utilities

ElectricityAvailable, NaturalGasAvailable, SewerConnected, WaterConnected, Water Source: Public, 12 separate electric meters, 11 separate gas meters

Windows

DoublePaneWindows, EnergyStarQualifiedWindows

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