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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$4,195,000

Est. payment - /mo

6,015 Sqft Lot

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC26003145

HOA Y/N No

Year Built 1964

Lot Size 6,015 Sqft

Property Sub-Type Apartment

Property Description

***Price Reduced $155,000***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

Location

State CA

County Los Angeles

Area 157 - S Redondo Bch W Of Pch

Interior

Heating Radiant

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned

Garage Spaces 10.0

Garage Description 10.0

Pool None

Community Features Biking, Curbs, Park

Total Parking Spaces 12

Private Pool No

Building

Lot Description Item610UnitsAcre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 7503011029

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Jonathan Mitchell Kidder Mathews of California, Inc 949-557-5000, DRE #01227852

NEARBY SCHOOL & BUSINESS

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502 N Elena AVE #1-7 Redondo Beach, CA 90277