1802 Esplanade - Apartments FOR SALE


Redondo Beach, CA 90277
$7,150,000 USD
310-613-1251
1802 Esplanade, Redondo Beach, CA for Sale
$7,150,000 USD
Apartments - FOR SALE
1/16
null | 3.14% Cap Rate

1802 Esplanade
Redondo Beach, CA 90277


HIGHLIGHTS

  • 10 Units: (4) 2-bed 2-bath & (6) 1-bed 1-bath
  • Low price per unit cost basis for the Esplanade
  • Pro-Forma 5.51% Cap Rate & 13.91 GRM
  • Unbeatable location walking distance to Riviera Village, Redondo Beach Pier, Torrance Beach, Veterans Park, & Strand Bike Path

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$7,150,000 USD

PRICE/SF

$999 USD /SF

# OF UNITS

10

PRICE/UNIT

$715,000

CAP RATE

3.14%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Skylark

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,264 SF

ZONING

RBRMD

APN/PARCEL ID

7511-016-008

ASK ABOUT THIS PROPERTY

Austin ZahnLyon Stahl Investment Real Estate, Inc.More Info
310-613-1251

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Austin ZahnLyon Stahl Investment Real Estate, Inc.More Info
310-613-1251

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.