608 Esplanade
Redondo Beach, CA 90277
0.22 acres | #SB25021284
Description
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 Details
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Lot DescriptionLandscaped
- Original List Price$5,000,000
- MLS #SB25021284
- MLS #SB25021284
- Property SubtypeApartment
- Cost5000000
- Acres0.2213
- Utility SourcePublic
- Year Built1956
- Stories2
- Parking Spaces8
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Anthony Walker (#SBWALKANT)
Listing Office: Buckingham Investments, Inc (#SB1301700)
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