502 N Elena AVE, Redondo Beach, CA 90277
502 N Elena AVE, Redondo Beach, CA 90277
502 N Elena AVE, Redondo Beach, CA 90277
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Listed by Jonathan Mitchell, DRE #01227852 • Kidder Mathews of California, Inc
$4,195,000
Est. payment /mo
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6,017 Sqft Lot
Active

502 N Elena AVE Redondo Beach, CA 90277

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Adrian Chu

Adrian Chu

+1(206) 407-5452

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CROC26003145

Year Built 1964

Lot Size 6,017 Sqft

Source California Regional MLS

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.

Location

State CA

County Los Angeles

Area 157 - S Redondo Bch W Of Pch

Interior

Heating Radiant

Laundry Laundry Area, Washer/Dryer - Leased, Community Facility

Exterior

Parking Features Assigned Spaces

Garage Spaces 12.0

Pool 31, None

Building

Water District - Public

Others

Tax ID 7503011029

Special Listing Condition Not Applicable

MLS Listing IDX PLUS
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Adrian Chu

Adrian Chu

Founder & CEO

+1(206) 407-5452

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502 N Elena AVE