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502 N Elena Ave 7 Unit Apartment Building $4,195,000 ($599,286/Unit) 3.32% Cap Rate Redondo Beach, CA 90277
Investment Highlights
- Price Reduced $155,000
- Excellent unit mix of 3, 2 & 1 bedroom units
- New electrical panels, Individual garages & Select private patios & ocean views
- 100% occupied. well-managed, & maintained
- 6 of 7 units have been recently renovated to different states that include: new plumbing, electrical panels, kitchens, bathrooms, flooring & hardware
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$223,992
|
$46.28
|
| Other Income |
$988
|
$0.20
|
| Vacancy Loss |
$4,480
|
$0.93
|
| Effective Gross Income |
$220,500
|
$45.56
|
| Taxes |
$45,989
|
$9.50
|
| Operating Expenses |
$35,310
|
$7.30
|
| Total Expenses |
$81,299
|
$16.80
|
| Net Operating Income |
$139,201
|
$28.76
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $223,992 |
| Annual Per SF | $46.28 |
| Other Income | |
|---|---|
| Annual | $988 |
| Annual Per SF | $0.20 |
| Vacancy Loss | |
|---|---|
| Annual | $4,480 |
| Annual Per SF | $0.93 |
| Effective Gross Income | |
|---|---|
| Annual | $220,500 |
| Annual Per SF | $45.56 |
| Taxes | |
|---|---|
| Annual | $45,989 |
| Annual Per SF | $9.50 |
| Operating Expenses | |
|---|---|
| Annual | $35,310 |
| Annual Per SF | $7.30 |
| Total Expenses | |
|---|---|
| Annual | $81,299 |
| Annual Per SF | $16.80 |
| Net Operating Income | |
|---|---|
| Annual | $139,201 |
| Annual Per SF | $28.76 |
Property Facts
| Price | $4,195,000 | Apartment Style | Low-Rise |
| Price Per Unit | $599,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 3.32% | Building Size | 4,840 SF |
| Gross Rent Multiplier | 16.9 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.86/1,000 SF |
| Zoning | RBR-3A | ||
| Price | $4,195,000 |
| Price Per Unit | $599,286 |
| Sale Type | Investment |
| Cap Rate | 3.32% |
| Gross Rent Multiplier | 16.9 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,840 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2022 |
| Parking Ratio | 1.86/1,000 SF |
| Zoning | RBR-3A |
Amenities
Unit Amenities
- Microwave
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 708 |
| 2+1.5 | 1 | - | 850 |
| 3+2 | 1 | - | 1,200 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 7503-011-029 | Total Assessment | $3,179,225 |
| Land Assessment | $2,543,381 | Annual Taxes | $45,989 ($9.50/SF) |
| Improvements Assessment | $635,844 | Tax Year | 2025 |
Property Taxes
Parcel Number
7503-011-029
Land Assessment
$2,543,381
Improvements Assessment
$635,844
Total Assessment
$3,179,225
Annual Taxes
$45,989 ($9.50/SF)
Tax Year
2025
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502 N Elena Ave
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