Redondo Beach, CA 90277,502 N Elena Avenue
Redondo Beach, CA 90277,502 N Elena Avenue
Redondo Beach, CA 90277,502 N Elena Avenue
10
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$4,350,000
Est. payment /mo
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6 Beds
4 Baths
6,017 Sqft Lot
Active

502 N Elena Avenue Redondo Beach, CA 90277

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Matthew Thornberg

Matthew Thornberg

+1(619) 799-9682

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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

MLS Router / San Diego MLS
Listed by Jonathan Mitchell Kidder Mathews of California, Inc

Nearby Locations

SCHOOLSPROPERTIES
Elementary Schools 20
  • 10

    Hermosa View Elementary School

    Public | KG - 2

  • 10

    Alta Vista Elementary School

    Public | KG - 5

  • 10

    Tulita Elementary School

    Public | KG - 5

  • 10

    Anza Elementary School

    Public | KG - 5

  • 10

    Seaside Elementary

    Public | KG - 5

  • 9

    Robinson Elementary School

    Public | KG - 5

  • 9

    Pacific Elementary School

    Public | KG - 5

  • 9

    Hermosa Valley Elementary School

    Public | 3 - 8

  • 9

    Meadows Elementary School

    Public | KG - 5

  • 9

    Pennekamp Elementary School

    Public | KG - 5

  • 9

    Beryl Heights Elementary School

    Public | KG - 5

  • 9

    Jefferson Elementary School

    Public | KG - 5

  • 9

    Towers Elementary School

    Public | KG - 5

  • 9

    Lincoln Elementary School

    Public | KG - 5

  • 8

    Birney Elementary School

    Public | KG - 5

  • 8

    Riviera Elementary

    Public | KG - 5

  • 8

    Madison Elementary School

    Public | KG - 5

  • 8

    Victor Elementary School

    Public | KG - 5

  • 8

    Washington Elementary School

    Public | KG - 5

  • 8

    Arnold Elementary School

    Public | KG - 5

Middle Schools 12
  • 10

    Manhattan Beach Middle School

    Public | 6 - 8

  • 9

    Parras Middle School

    Public | 6 - 8

  • 9

    Richardson Middle School

    Public | 6 - 8

  • 9

    Adams Middle School

    Public | 6 - 8

  • 8

    Calle Mayor Middle School

    Public | 6 - 8

  • 8

    Bert Lynn Middle School

    Public | 6 - 8

  • 8

    Jefferson Middle School

    Public | 6 - 8

  • 8

    Magruder Middle School

    Public | 6 - 8

  • 6

    Jane Addams Middle School

    Public | 6 - 8

  • 6

    Will Rogers Middle School

    Public | 6 - 8

  • 0

    Fusion Academy South Bay

    Private | 6 - 12

  • 0

    Redondo Beach Learning Academy

    Public | 8 - 12

High Schools 7
  • 10

    Mira Costa High School

    Public | 9 - 12

  • 10

    South High School

    Public | 9 - 12

  • 9

    Redondo Union High School

    Public | 9 - 12

  • 9

    West High School

    Public | 9 - 12

  • 6

    Environmental Charter High School

    Public | 9 - 12

  • 0

    Redondo Shores High (Continuation)

    Public | 9 - 12

  • 0

    South Bay Academy Community Day

    Public | 9 - 12

School and business data provided by Attom Data.

GET MORE INFORMATION

Matthew Thornberg

Matthew Thornberg

Team Leader / Realtor | License ID: 02021076

+1(619) 799-9682

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502 N Elena Avenue