16
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$7,150,000
Est. payment /mo
7,278 Sqft Lot
New
1802 Esplanade Redondo Beach, CA 90277
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Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25067947
HOA Y/N No
Year Built 1960
Lot Size 7,278 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
Area 128 - Hollywood Riviera
Zoning RBRMD
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 10.0
Garage Description 10.0
Pool None
Community Features Curbs, Sidewalks
View Y/N Yes
View Catalina, Coastline, Ocean
Total Parking Spaces 10
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 7511016008
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Lease Land No
Listed by Austin Zahn • Lyon Stahl Investment Real Estate, Inc. • 310-613-1251