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Listed by Austin Brent Zahn • Lyon Stahl Investment Real Estate, Inc.
$7,150,000
Est. payment /mo
7,155 SqFt
New
1802 Esplanade Redondo Beach, CA 90277
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Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,155 sqft
Price per Sqft $999
MLS Listing ID SB-25067947
Year Built 1960
Lot Size 7,281 Sqft
Property Sub-Type Apartment
Property Description
Introducing a rare investment opportunity at 1802 Esplanade, Redondo Beach - a 10-unit property in one of the most desirable coastal neighborhoods in Southern California. This exceptional property features a highly sought-after unit mix, including four (4) 2-bedroom, 2-bathroom units and six (6) 1-bedroom, 1-bathroom units, making it an ideal choice for tenants seeking the ultimate beachside lifestyle. Located on the prestigious Esplanade, this property is just steps from the sand, offering breathtaking ocean views and refreshing sea breezes. Residents will enjoy the convenience of being within walking distance to the Redondo Beach Pier, Riviera Village, and Veterans Park, where they can explore top-tier dining, boutique shopping, and vibrant entertainment. Currently operating at a 3.14% cap rate the 50% upside in rents allows an investor to achieve a pro-forma cap rate of 5.51%! Whether you're looking to expand your portfolio or secure a trophy asset in one of LA's most sought-after beach communities, this is an opportunity you won't want to miss.
Location
State CA
County Los Angeles
Zoning RBRMD
Interior
Laundry Common Area
Exterior
Parking Features Gated
Garage Spaces 10.0
Pool None
Community Features Curbs, Sidewalks
View Y/N Yes
View Ocean, White Water, Catalina, Coastline
Building
Lot Description Rectangular Lot
Sewer Public Sewer