Log In/Sign Up
Your email has been sent.
313 Calle Miramar 6 Unit Apartment Building $4,896,670 CAD ($816,112 CAD/Unit) 3.24% Cap Rate Redondo Beach, CA 90277
Investment Highlights
- Prime Hollywood Riviera Location: 6-unit apartment just two blocks from Torrance Beach, Pacific Ocean, and within a few blocks of Riviera Village.
- Outstanding Unit Mix: Comprised of (4) 2-bedroom units and (2) 1-bedroom/1-bathroom units, with one of the 2-bedroom units delivered vacant.
- Large 8,747-SF Lot: Expansive parcel offering desirable ADU potential (Buyer to Verify). | No Local Rent Control: Defaults to AB 1482.
- Capital Improvements: All new electrical panels and wiring (2025), updated plumbing drains (2024), and recent exterior and landscaping improvements.
- Desirable Property Amenities: Individual hot water heaters for each unit, 6 carport parking spaces, and a spacious, landscaped common area front yard.
- Strong Value-Add Opportunity: Rents are approximately 40% below market, equating to a 5.26% pro-forma cap rate and 13.67 pro-forma GRM.
Executive Summary
ASSET
6-unit apartment located in South Redondo Beach’s Hollywood Riviera. No local rent control – AB 1482 only. The property features all new electrical panels, new electrical wires, updated plumbing drains and 6 carport parking spaces. Each unit contains individual hot water heaters. Situated on a large 8,747-SF lot, the property consists of (2) 2-bedroom/2-bathroom units, (2) 2-bedroom/1-bathroom units and (2) 1-bedroom/1-bathroom units. One of the 2-bedroom units is currently vacant. The large lot and parking area present a desirable opportunity to add ADUs. Furthermore, the property has undergone recent exterior and new landscaping, enhancing its curb appeal.
LOCATION
313 Calle Miramar is located just two blocks from Torrance Beach, Miramar Park and the Pacific Ocean. The asset is also within a few blocks of Riveria Village and the many retail, dining and entertainment options of South Redondo Beach.
FINANCIALS
This 4,784-SF apartment presents a tremendous value-add opportunity with rents that are +/-40% below market. Priced at a pro-forma cap rate of 5.26% and pro-forma GRM of 13.67, the asset provides spectacular upside potential in an incredible South Redondo Beach location.
6-unit apartment located in South Redondo Beach’s Hollywood Riviera. No local rent control – AB 1482 only. The property features all new electrical panels, new electrical wires, updated plumbing drains and 6 carport parking spaces. Each unit contains individual hot water heaters. Situated on a large 8,747-SF lot, the property consists of (2) 2-bedroom/2-bathroom units, (2) 2-bedroom/1-bathroom units and (2) 1-bedroom/1-bathroom units. One of the 2-bedroom units is currently vacant. The large lot and parking area present a desirable opportunity to add ADUs. Furthermore, the property has undergone recent exterior and new landscaping, enhancing its curb appeal.
LOCATION
313 Calle Miramar is located just two blocks from Torrance Beach, Miramar Park and the Pacific Ocean. The asset is also within a few blocks of Riveria Village and the many retail, dining and entertainment options of South Redondo Beach.
FINANCIALS
This 4,784-SF apartment presents a tremendous value-add opportunity with rents that are +/-40% below market. Priced at a pro-forma cap rate of 5.26% and pro-forma GRM of 13.67, the asset provides spectacular upside potential in an incredible South Redondo Beach location.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$256,114
|
$53.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,683
|
$1.61
|
| Effective Gross Income |
$248,431
|
$51.93
|
| Taxes |
$61,227
|
$12.80
|
| Operating Expenses |
$28,681
|
$6.00
|
| Total Expenses |
$89,908
|
$18.79
|
| Net Operating Income |
$158,523
|
$33.14
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $256,114 |
| Annual Per SF | $53.54 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $7,683 |
| Annual Per SF | $1.61 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $248,431 |
| Annual Per SF | $51.93 |
| Taxes (CAD) | |
|---|---|
| Annual | $61,227 |
| Annual Per SF | $12.80 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $28,681 |
| Annual Per SF | $6.00 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $89,908 |
| Annual Per SF | $18.79 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $158,523 |
| Annual Per SF | $33.14 |
Property Facts
| Price | $4,896,670 CAD | Apartment Style | Garden |
| Price Per Unit | $816,112 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 3.24% | Building Size | 4,784 SF |
| Gross Rent Multiplier | 19.12 | Average Occupancy | 83% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Zoning | TORR-MD | ||
| Price | $4,896,670 CAD |
| Price Per Unit | $816,112 CAD |
| Sale Type | Investment |
| Cap Rate | 3.24% |
| Gross Rent Multiplier | 19.12 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,784 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | TORR-MD |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $2,450 CAD | - |
| 2+1 | 2 | $4,869 CAD | - |
| 2+2 | 2 | $3,350 CAD | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 7511-019-022 | Total Assessment | $5,514,961 CAD |
| Land Assessment | $2,682,954 CAD | Annual Taxes | $61,227 CAD ($12.80 CAD/SF) |
| Improvements Assessment | $2,832,007 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
7511-019-022
Land Assessment
$2,682,954 CAD
Improvements Assessment
$2,832,007 CAD
Total Assessment
$5,514,961 CAD
Annual Taxes
$61,227 CAD ($12.80 CAD/SF)
Tax Year
2025
1 of 16
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
313 Calle Miramar
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.