CBC Advisors is proud to present this 4,780-square foot, six-unit apartment located at 508 Esplanade in Redondo Beach, California. Redondo Beach has seen a recent revitalization of local landmarks and continued growth in its multifamily market. The subject property is located twenty miles south of Los Angeles near the secluded and idyllic South Redondo area known as “Hollywood Riviera,” nestled next to the beautiful coves of Palos Verdes Peninsula. Only half a block separates this beautiful property from the Pacific Ocean. In a six-block radius is a cluster of boutique clothing and gift shops, restaurants and cafes. Apart from the smog-free views of the Pacific Ocean and the lush and dramatic cliffs of the Palos Verdes Peninsula, the subject property is just minutes from King Harbor and the Redondo Beach Pier.
Set in a prime South Redondo Beach location within walking distance to all of the boutique retail, entertainment and restaurants of South Catalina Avenue - including Tapas Y Vino, Yellow Vase, Coffee Cartel, Redondo Beach Brewing, Zazou, and Hennessey’s Tavern - these residences allow for easy access to otherwise difficult secluded beach and recreational destinations such as Torrance Beach, Malaga Cove, Miramar Park and the Redondo Beach Pier.
Situated on a lot totaling 6,410-square feet, the offering consists of six units: one two-bedroom/one-and-three-quarter-bathroom owner’s unit, one three-bedroom/two-bathroom unit and four one-bedroom/one-bathroom units. The spacious owner’s units contains a fireplace and private deck. The property is situated half a block from the Pacific Ocean which allows an investor to obtain yield growth through property enhancements. Additionally, all units are separately metered for gas and electricity and have garage parking plus one tandem space for every unit.
The 508 Esplanade apartment provides long-term investors with the opportunity to own an A Class Asset on a valuable piece of land in a prime Redondo Beach location. Additionally, a buyer may consider enhancing the current building to sell the property at a later date. 508 Esplanade provides an investor with the once in a life-time opportunity to purchase a highly attractive property, with strong income, in an absolutely irreplaceable location.
