1902 Flagler Ln - Blank Canvas in Prime Redondo Beach | 4 Units 4 Unit Apartment Building Offered at $2,289,000 at a 6.86% Cap Rate Redondo Beach, CA 90278

Rare Find! A Fully Vacant 4 Plex ready to be remodeled to your liking with your own tenants.
1902 Flagler Ln, located in a highly desirable pocket of Redondo Beach is a massive 4,724 sq ft. This oversized 4 plex also sits on a 7500 sq ft lot, perfect for adding ADUs while still maintaining parking. The asset comes complete with 4 Garages and 5 additional parking tandem to the garages. RBR-3 lot, the property offers two spacious 3-bed/2-bath units and two 2-bed/2-bath, with classic mid-century curb appeal in a quiet neighborhood. At stabilization, before ADU, the asset targets a 6.86% CAP / 11.92 GRM, with flexibility to reposition as luxury apartments, long-term rentals, or a mix of mid-term stays.
Two detached garages at the rear can be converted into two extra 2+2 ADUs, leveraging new California ADU Ordinances like Senate Bill 1211 & SB 79 that allow multifamily owners to add or convert units—often without replacing onsite parking, subject to streamlined, ministerial approvals. Zoning supports this infill strategy, including potential density bonuses and relaxed standards when aligned with affordable or workforce housing goals.
Just minutes from the beach, major employment hubs, and top tourist attractions. For investors seeking scale in one of the South Bay’s most supply-constrained submarkets, 1902 Flagler Ln is a true blank canvas