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Listed by Austin Zahn • Lyon Stahl Investment Real Estate, Inc.
$ 7,150,000
Est. payment | /mo
7,155 SqFt
$ 7,150,000
Est. payment | /mo
7,155 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,155 sqft
Price per Sqft $999
MLS Listing ID CRSB25067947
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1960
Lot Size 7,281 Sqft
Property Sub-Type Other
Property Description
Introducing a rare investment opportunity at 1802 Esplanade, Redondo Beach – a 10-unit property in one of the most desirable coastal neighborhoods in Southern California. This exceptional property features a highly sought-after unit mix, including four (4) 2-bedroom, 2-bathroom units and six (6) 1-bedroom, 1-bathroom units, making it an ideal choice for tenants seeking the ultimate beachside lifestyle. Located on the prestigious Esplanade, this property is just steps from the sand, offering breathtaking ocean views and refreshing sea breezes. Residents will enjoy the convenience of being within walking distance to the Redondo Beach Pier, Riviera Village, and Veterans Park, where they can explore top-tier dining, boutique shopping, and vibrant entertainment. Currently operating at a 3.14% cap rate the 50% upside in rents allows an investor to achieve a pro-forma cap rate of 5.51%! Whether you're looking to expand your portfolio or secure a trophy asset in one of LA’s most sought-after beach communities, this is an opportunity you won’t want to miss.
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Other
Exterior
View Water, Other, Ocean
Building
Lot Description Other
Water Public
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Adam Shoop
Broker Associate at Exp Realty | Lic# 1782227