18218 Mansel Ave. Redondo Beach, CA 90278
New Construction Triplex in Redondo Beach
SOLD: $2,040,000 CAP RATE: 4.9% GRM: 16.19 PRICE PER SQUARE FOOT: $618
We are pleased to announce the sale of 18218 Mansel Avenue, a turnkey three unit compound located in prime East Redondo Beach, one of the most desirable coastal rental submarkets in Los Angeles. The property was purchased by a 1031 exchange buyer seeking stable, low maintenance cash flow and successfully closed in just 21 days from contract to completion for $2,040,000. The sale achieved a 4.9% cap rate, a 16.19 GRM, a $680,000 price per unit, and $618 per square foot.
Completed in 2023, the asset consists of two brand new construction homes and a fully renovated front residence, offering a high quality, low maintenance investment with strong in place income and rents at or near market. Each unit features open floor plans, luxury primary suites, high end finishes, and in unit laundry, making the property highly attractive to tenants and investors alike.
The property also provides future upside with permits ready to add a second story to the front unit, creating the opportunity to further increase income and long term value.
This transaction highlights the continued demand for well located, newer construction multifamily assets in coastal South Bay markets. David Saghian represented the buyer in the successful acquisition.
Investment Highlights
Turnkey three unit compound in prime East Redondo Beach coastal submarket
Sold to a 1031 exchange buyer seeking stable low maintenance cash flow
Closed in 21 days from contract to completion
Two brand new construction homes plus a fully renovated front residence all completed in 2023
Strong in place income with rents at or near market and an attractive 4.9% cap rate
High end finishes open floor plans luxury primary suites and in unit laundry in all units
Permit ready to add a second story to the front unit providing future income upside
Achieved $2,040,000 purchase price equal to $680,000 per unit and $618 per square foot
Buyer represented by David Saghian
Exclusively Sold By:
David Saghian
(310) 401-1559
dsaghian@lyonstahl.com