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$ 4,350,000
Est. payment | /mo
6 Beds
6,017 Sqft Lot
$ 4,350,000
Est. payment | /mo
6 Beds
6,017 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26003145
Bedrooms 6
Lot Size 6,017 Sqft
Property Sub-Type Res Income 2-4 Units
Property 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
Location
State CA
County Los Angeles
Zoning Public Rec
Direction West of PCH & North of Beryl
Interior
Heating Radiant
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7503011029
Acceptable Financing Cash
Listing Terms Cash
Listed by Jonathan Mitchell Kidder Mathews of California, Inc
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