NOT LISTED FOR SALE

1100 Esplanade Unit 10 Redondo Beach, CA 90277

6 Beds
5 Baths
15,541 Sq Ft
0.26 Acres

Last Sold September 26, 2024

Last sale price $13,317,750 $857 Per Sq Ft

9 Days on Market

Highlights

  • Ocean View
  • In Ground Pool
  • Corner Lot
  • Tulita Elementary School Rated A+
  • Property is near public transit
  • No HOA

About This Home

As of September 2024

Rare Opportunity to Purchase a 16-Unit Building on the Esplanade with Unobstructed Ocean Views. First time on the market in over 40 years. Developer Could Hold this Property as Income Property Until Ready to Build. Property requires an Astute Investor who Would be Seeking a Property with an Unbeatable Location and 50% Rental Upside. 4% Cap Rate at Market Rents Property of Large Units in a 15,541 Sq. Ft. Building on an 11,233 Sq. Ft. Lot Zoned RBRMD. DO NOT BOTHER TENANTS. ALL OFFERS SUBJECT TO INTERIOR INSPECTION.

Last Agent to Sell the Property

Michael Millea

Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 310-233-2800 License #01069014 Listed on: 06/18/2024

Lyon Stahl Investment Real Estate, Inc.

Last Buyer's Agent

Karen Kwitteles

The Realestate Group License #00680365

The Realestate Group

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1958

Lot Details

  • 0.26 Acre Lot
  • No Common Walls
  • Corner Lot
  • Level Lot
  • Front Yard

Parking

  • 16 Car Garage

Property Views

  • Ocean
  • Coastline
  • Panoramic

Home Design

  • Entry on the 1st floor

Interior Spaces

  • 15,541 Sq Ft Home
  • 3-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Additional Features

  • In Ground Pool
  • Property is near public transit
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 12 / 7
  • Tax Tract Number 7509
  • Assessor Parcel Number 7509006021
  • $4,749 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 16 Units

Amenities

  • Laundry Facilities

Recreation

  • Hiking Trails

Building Details

  • 16 Leased Units
  • 16 Separate Electric Meters
  • 16 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $3,300
  • Fuel Expense $4,852
  • Gardener Expense $3,600
  • Insurance Expense $24,866
  • Maintenance Expense $26,642
  • Professional Management Expense $35,552
  • Trash Expense $4,980
  • Water Sewer Expense $10,110
  • New Taxes Expense $164,002
  • Operating Expense $277,904
  • Gross Income $467,400
  • Net Operating Income $175,474

Property Details

Home Type

Apartment

Year Built

Built in 1958

Lot Details

0

Parking

16

Listing Details

  • Assessments: Yes
  • Professional Management Expense: 35552.00
  • Property Attached: No
  • View: Yes
  • Water Sewer Expenses: 10110.00
  • Zoning: RBRMD
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 3600.00
  • Parcel Number: 7509006021
  • Year Built: 1958
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 3
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Levels: Three Or More
  • Price Per Square Foot: 856.94

Exterior Features

  • View: Coastline, Ocean, Panoramic
  • Pool Features: Private, In Ground
  • Pool Private: Yes

Garage/Parking

  • Garage Spaces: 16.00
  • Total Parking Spaces: 16.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 4980.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Hiking, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Corner Lot, Front Yard, Level with Street, Lot 10000-19999 Sqft, Level, Near Public Transit
  • Lot Size Sq Ft: 11236.00
  • Lot Size Acres: 0.2579

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 3300.00
  • Fuel Expense: 4852.00
  • Gross Income: 467400.00
  • Gross Scheduled Income: 467400.00
  • Insurance Expense: 24866.00
  • Laundry Income: 4200.00
  • Lot Size Area: 11236.0000 Square Feet
  • Maintenance Expense: 26642.00
  • Net Operating Income: 175474.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 16
  • Number Of Units Total: 16
  • Operating Expense: 277904.00
  • Rent Control: No
  • Total Actual Rent: 38600.00
  • Total Expenses: 277904.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 164002.00
  • Tax Area: 8-055
  • Tax Block: 7
  • Tax Census Tract: 6213.26
  • Tax Lot: 12
  • Tax Rate: 1.10
  • Tax Tract Number: 7509
  • Tax Year: 2023
  • TaxOtherAnnualAssessmentAmount: 4749.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/26/2024 09/26/24 Sold $13,317,750 -4.8% $857 / Sq Ft
06/27/2024 06/27/24 Pending -- -- --
06/25/2024 06/25/24 Price Changed $13,995,000 -6.7% $901 / Sq Ft
06/18/2024 06/18/24 For Sale $14,995,000 -- $965 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Michael Millea

    Seller's Agent in 2024

    Michael Millea

    Lyon Stahl Investment Real Estate, Inc.

    (310) 251-2083

    1 in this area

    44 Total Sales

    Michael Millea
    Section Image

  • K

    Buyer's Agent in 2024

    Karen Kwitteles

    The Realestate Group

    (310) 541-1670

    2 in this area

    2 Total Sales

    Karen Kwitteles
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB24124464

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Redondo Beach 90277

1100 Esplanade Unit 10, Redondo Beach, CA

This home is located at 1100 Esplanade Unit 10, Redondo Beach, CA 90277 since 18 June 2024. This property was built in 1958. 1100 Esplanade Unit 10 is a home located in Los Angeles County with nearby schools including Tulita Elementary School, Parras (Nick G.) Middle School, and Redondo Union High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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

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