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