608 Esplanade

Redondo Beach, CA 90277

$5,000,000

List Price

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bed Beds

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shower Baths

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straighten / sqft

1956

calendar_month Built

Property Description

Incredible opportunity to own a rare ocean view generational asset on the Esplanade in Redondo Beach. First time on the market in over 40 years, this huge 7 unit (plus 1 non-conforming) apartment building offers over 7,000 square feet of rentable square footage on a nearly 10,000 square foot lot with 7 garage parking spaces. Enormous unique 2 story owner's unit loft style apartment with jaw-dropping ocean views, beamed ceilings, skylights, direct access elevator, large open concept kitchen, balcony, office, den, fireplace, wet bar, and 2 bathrooms. 6 other separately metered spacious apartments including one 2 bed/1 bath unit with ocean views, two 2 bed/2 bath units, and three 1 bed/1 bath units plus one non-conforming studio above the garages in the rear of property (check for ADU potential). Well priced on income for ocean front multifamily at 19X GRM on actual rents with a 30% upside to 14.8X GRM on market rents. Extremely well maintained property with very little deferred maintenance. Newer windows, clean units, and individual water heaters.

Listing Information

List Price $5,000,000
Status Active
MLS SB25021284
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1956
Lot Size 9,639
Structure Size N/A
DOM 1
Courtesy Of Buckingham Investments, Inc
Listing Agent Anthony Walker DRE#01908153
Co-Listing Agent Josh Ess DRE#02035659

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
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Exterior Information

Maps

Listing information courtesy of: Anthony Walker, Josh Ess, Buckingham Investments, Inc 310 982-7055. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 30th, 2025 at 6:17 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.