502 N Elena Avenue #1-7, Redondo Beach, CA 90277
Local realty services provided by:CENTURY 21 Valley Properties
502 N Elena Avenue #1-7,Redondo Beach, CA 90277
$4,195,000
- - Beds
- - Baths
- 4,840 sq. ft.
- Multi-family
- Active
Listed by: jonathan mitchell
Office: kidder mathews of california, inc949-557-5000
MLS#:OC26003145
Source:CRMLS
Price summary
- Price:$4,195,000
- Price per sq. ft.:$866.74
About this home
***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. • 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, 2 & 1 bedroom units
• New electrical panels...
Contact an agent
Home facts
- Year built:1964
- Listing ID #:OC26003145
- Added:158 day(s) ago
- Updated:June 14, 2026 at 10:34 AM
Rooms and interior
- Living area:4,840 sq. ft.
Heating and cooling
- Heating:Radiant
Structure and exterior
- Year built:1964
- Building area:4,840 sq. ft.
- Lot area:0.14 Acres
- Levels:2 Story
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$4,195,000
- Price per sq. ft.:$866.74
Parking
- Total parking spaces:12
- Parking description:Assigned
- Garage:Yes
- Garage spaces:10
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