502 N Elena Avenue, Redondo Beach, CA 90277
Local realty services provided by:ERA North Orange County Real Estate
502 N Elena Avenue,Redondo Beach, CA 90277
$4,195,000
- 6 Beds
- 4 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: jonathan mitchell
Office: kidder mathews of california, inc
MLS#:OC26003145
Source:San Diego MLS via CRMLS
Price summary
- Price:$4,195,000
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 pat...
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Home facts
- Listing ID #:OC26003145
- Added:116 day(s) ago
- Updated:May 03, 2026 at 01:58 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:4
Heating and cooling
- Heating:Radiant
Structure and exterior
- Levels:2 Story
Finances and disclosures
- Price:$4,195,000
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