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Listed by Anthony Walker • Buckingham Investments, Inc
$5,000,000
Est. payment /mo
7,236 SqFt
Active
608 Esplanade Redondo Beach, CA 90277
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UPDATED:
01/31/2025 01:57 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,236 sqft
Price per Sqft $690
MLS Listing ID CRSB25021284
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1956
Lot Size 9,639 Sqft
Property 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.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Community Facility
Building
Lot Description Other
Water Public
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