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Listed by Jonathan Mitchell, DRE #01227852 • Kidder Mathews of California, Inc
$ 4,195,000
Est. payment /mo
Active
502 N Elena AVE Redondo Beach, CA 90277
6,017 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26003145
Year Built 1964
Lot Size 6,017 Sqft
Source California Regional MLS
Property Description
***Price Reduced $155,000***This 7-unit apartment community offers investors desirable amenities and an exceptional location within Redondo Beach in the South Bay. The property features a diverse unit mix of three, two & onebedroom units with functional layouts that consistently attract long-term tenants. Residents benefit from onsite laundry and individual garages. The residences in the rear further distinguish themselves with select townhouse units and large private patios, offering a more spacious, modern living experience. This combination of location, design, and amenities ensures strong renter demand and positions the property for substantial rent and income growth as units are modernized and brought to market levels. . 6 of 7 units have been renovated to different states that include: new plumbing, electrical panels, kitchens, bathrooms, flooring, and hardware. . Demand Tailwinds: The severe monthly cost differential between renting ($3,550 avg.) and owning ($11,248 avg.) in Redondo Beach underscores ongoing renter demand, especially among workforce households priced out of homeownership. . Proven Rent Growth: Historical rent growth in Redondo Beach has been both strong and resilient, with continued increases forecast through the end of the decade.
Location
State CA
County Los Angeles
Area 157 - S Redondo Bch W Of Pch
Interior
Heating Radiant
Laundry Laundry Area, Washer/Dryer - Leased, Community Facility
Exterior
Parking Features Assigned Spaces
Garage Spaces 12.0
Pool 31, None
Building
Water District - Public
Others
Tax ID 7503011029
Special Listing Condition Not Applicable
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