608 Esplanade Redondo Beach, CA 90277
Multi-Family (2-4 Units)
MLS #: SB25021284
Courtesy Of Buckingham Investments, Inc.
$5,000,000
10 beds
|
10 baths
|
7,236 sq ft
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Estimated monthly payments:
$21,857/mo.* (recalculate)
Property InformationDescription
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.
Features
- Age: Over 50 Years Old
- Amenities: Dock
- Architecture Style: Other
Demographic Data
Redondo Beach, CA 90277
| Median Age: | 43.8 |
|---|---|
| Married: | 43% |
| Number of Households: | 16,082 |
| Households with Children: | 22.4% |
Redondo Beach, CA 90277
Demographic Data
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Occupancy Types
- 0 Vacant
- 0 Owned
- 0 Rented
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Transportation to Work
- 0 Drive
- 0 Public Transportation
- 0 Walk / Bike / Other
- 0 Work at Home
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