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Marjorie Crow
(310) 722-8250mcrowrealestate@gmail.com
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    200 South Pacific Coast Hwy Redondo Beach, CA 90277
    CA, Redondo Beach 90277
    (310) 543-3536
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    California Regional Multiple Listing Service

    The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

    Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

    $4,350,000
    For Sale

    502 Elena Avenue #1-7

    Redondo Beach, CA 90277
    0.14 acres | #OC26003145
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    Listing OfficeKidder Mathews of California, Inc
    10 photos
    Type:Multi-Family
    Structure:House
    Zone:Residential

    Description

    This 7-unit apartment community offers investors desirable amenities and an exceptional location within Redondo Beach in the South Bay. The property features a diverse unit mix of three, two & onebedroom units with functional layouts that consistently attract long-term tenants. Residents benefit from onsite laundry and individual garages. The residences in the rear further distinguish themselves with select townhouse units and large private patios, offering a more spacious, modern living experience. This combination of location, design, and amenities ensures strong renter demand and positions the property for substantial rent and income growth as units are modernized and brought to market levels. • 6 of 7 units have been renovated to different states that include: new plumbing, electrical panels, kitchens, bathrooms, flooring, and hardware. • Demand Tailwinds: The severe monthly cost differential between renting ($3,550 avg.) and owning ($11,248 avg.) in Redondo Beach underscores ongoing renter demand, especially among workforce households priced out of homeownership. • Proven Rent Growth: Historical rent growth in Redondo Beach has been both strong and resilient, with continued increases forecast through the end of the decade. • With affordability challenges driving sustained renter demand, and historical trends pointing toward ongoing rent appreciation, Park Promenade provides investors a compelling opportunity for both near-term value creation and long-term growth. • 100% occupied. well-managed, & maintained • Individual garages & select private patios • Excellent unit mix of 3, 2 & 1 bedroom units • New electrical panels

    • Property Details
        • Lot DescriptionSixToTenUnitsAcre
        • Property TypeMulti-Family
        • Sewer InformationPublicSewer
        • CountyLos Angeles
        • Original List Price$4,350,000
        • MLS #OC26003145
        • MLS #OC26003145
        • Cost4350000.0
        • Property SubtypeApartment
        • Acres0.1381
        • Utility SourcePublic
        • Parking Spaces10.0
        • Year Built1964
        • Hoa Fees0.0
        • Stories2

    Location

    Legal

    The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

    Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

    Last Updated: Today at 1:28 PM. Source: CRMLS

    Provided By
    Listing Agent: Jonathan Mitchell (#SMITCJON)
    Listing Office: Kidder Mathews of California, Inc (#OC07007)

    Marjorie CrowReal Estate Group
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