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$ 7,150,000
Est. payment /mo
New
1802 Esplanade Redondo Beach, CA 90277
5 Beds
5 Baths
7,281 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25067947
Bedrooms 5
HOA Y/N No
Lot Size 7,281 Sqft
Property Sub-Type Res Income 2-4 Units
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 LAs most sought-after beach communities, this is an opportunity you wont want to miss.
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 LAs most sought-after beach communities, this is an opportunity you wont want to miss.
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 LAs most sought-after beach communities, this is an opportunity you wont want to miss.
Location
State CA
County Los Angeles
Area Redondo Beach (90277)
Zoning Public Rec
Building
Lot Description Curbs, Sidewalks
Story 2
Lot Size Range 4000-7499 SF
Others
Monthly Total Fees $230
Acceptable Financing Cash
Space Rent $3,300
Listing Terms Cash
Listed by Austin Zahn • Lyon Stahl Investment Real Estate, Inc.