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Incredible opportunity to own a rare ocean view generational asset on the Esplanade in Redondo Beach. First time on the market in over 40 years, this huge 7 unit (plus 1 non-conforming) apartment building offers over 7,000 square feet of rentable square footage on a nearly 10,000 square foot lot with 7 garage parking spaces. Enormous unique 2 story owner's unit loft style apartment with jaw-dropping ocean views, beamed ceilings, skylights, direct access elevator, large open concept kitchen, balcony, office, den, fireplace, wet bar, and 2 bathrooms. 6 other separately metered spacious apartments including one 2 bed/1 bath unit with ocean views, two 2 bed/2 bath units, and three 1 bed/1 bath units plus one non-conforming studio above the garages in the rear of property (check for ADU potential). Well priced on income for ocean front multifamily at 19X GRM on actual rents with a 30% upside to 14.8X GRM on market rents. Extremely well maintained property with very little deferred maintenance. Newer windows, clean units, and individual water heaters.
Property Type(s):
Residential Income
| Last Updated | 1/29/2025 | Year Built | 1956 |
|---|---|---|---|
| Community | S Redondo Bch W of PCH | Garage Spaces | 8.0 |
| County | Los Angeles |
Additional Details
| AREA | S Redondo Bch W of PCH |
|---|---|
| GARAGE | Yes |
| HOA DUES | 0 |
| LOT | 9639 sq ft |
| LOT DESCRIPTION | Landscaped |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| WATER | Public |
| ZONING | RBRMD |
Location
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Listed with Buckingham Investments, Inc
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