218 Ruby Street, Redondo Beach

IN ESCROW – 218 Ruby Street represents a rare opportunity for investors or developers to purchase a RBR-3A zoned duplex on a corner lot.  This prime location is both west of PCH and south of Torrance Blvd and just 2 short blocks to the beach.  The existing structure is two 2 bedroom, 1 bath units – one up and one down.  For the eager investor, there is a great opportunity to upgrade the units and capture up to 46% upside in gross rents.  The lot usage of existing improvements leaves plenty of room to explore options to add more square footage or a potential ADU on the property.   Buyers will want to investigate for potential redevelopment of larger units on this prime location.  The property is currently tenant occupied – please do NOT disturb the tenants or walk the property.  See agent comments for additional information and supplements. 

Current Gross Rents – $42,564

Proforma Gross rents – $62,400