Seller's Agent in 2019
Abby Waddell
Compass
(310) 241-3038
1 in this area
40 Total Sales
1606 Esplanade Redondo Beach, CA 90277
Estimated Value: $8,310,343
7
Beds
6
Baths
6,664
Sq Ft
$1,247/Sq Ft
Est. Value
Highlights
- Ocean Front
- Corian Countertops
- Picnic Area
- Tulita Elementary School Rated A+
- Laundry Room
- Awning
About This Home
As of October 2019This ocean front property in South Redondo Beach is truly one of a kind! This property along with a vacant lot have been family owned for many years and have unobstructed views from Palos Verdes to Malibu. This Property has a beautifully maintained 8 unit apartment building and next door the other Property is a vacant lot. Both are located on a prime block of the Esplanade which is a dream location for walking along the beach front and walking around the corner to the local shops and restaurants in the wildly popular Riviera Village.The two Properties combine for a total of 14,820 sq ft and can be sold separately or together. These properties are ideal for investors or developers. The vacant lot contains 6,950 sq ft and is priced at $3,900,000 and the Apartment Building is on 7,870 sq ft and has two separate buildings containing 8 units. 4 of the units have full ocean views and 4 units have partial ocean views. The owner has been active in the management of the buildings which is reflected in the condition and upkeep and quality of tenants. The roof and galvanized pipes were replaced in the past 15 years and the building has newer stucco that was repainted in 2013 along with gutters, awnings, and the replacement of ranges with stainless steel units and Corian counters. With each new tenant the carpet is replaced and painted. There are newer wall heaters as well. This is a once in a lifetime opportunity to purchase these prime beachfront properties.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $72,963
Year Built
- Built in 1956
Lot Details
- 7,870 Sq Ft Lot
- Ocean Front
- Two or More Common Walls
- Rectangular Lot
- Level Lot
Parking
- 9 Car Garage
- Parking Available
- Assigned Parking
Property Views
- Ocean
- Catalina
Home Design
- Property Attached
- Composition Roof
- Stucco
Interior Spaces
- 6,664 Sq Ft Home
- Awning
- Sliding Doors
- Laundry Room
Kitchen
- Gas Range
- Corian Countertops
Flooring
- Carpet
- Vinyl
Bedrooms and Bathrooms
- 7 Bedrooms
- 6 Bathrooms
Outdoor Features
- Rain Gutters
Utilities
- Wall Furnace
- Natural Gas Connected
- Sewer Paid
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Legal Lot and Block 8 / 18
- Tax Tract Number 2546
- Assessor Parcel Number 7511008019
Community Details
Overview
- 2 Buildings
- 8 Units
Amenities
- Picnic Area
- Laundry Facilities
Building Details
- 8 Leased Units
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- Electric Expense $1,500
- Gardener Expense $960
- Insurance Expense $2,880
- Maintenance Expense $5,000
- Other Expense $2,400
- Professional Management Expense $8,000
- Trash Expense $2,436
- Water Sewer Expense $2,316
- New Taxes Expense $84,375
- Operating Expense $109,905
- Gross Income $237,900
- Net Operating Income $120,858
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 15, 2019
Closed on
Sep 24, 2019
Sold by
F Christensen Inc
Bought by
1606 Esplanade Llc
Seller's Agent
Abby Waddell
Compass
Buyer's Agent
Jeanevra Calhoun
Beach City Brokers
List Price
$6,750,000
Sold Price
$6,000,000
Premium/Discount to List
-$750,000
-11.11%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,310,343
Avg. Annual Appreciation
5.07%
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 1606 Esplanade Llc | $6,000,000 | Fidelity National Title |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/17/2019 10/17/19 | Sold | $6,000,000 | -3.2% | $900 / Sq Ft |
| 09/18/2019 09/18/19 | Pending | -- | -- | -- |
| 09/10/2019 09/10/19 | Price Changed | $6,200,000 | -8.1% | $930 / Sq Ft |
| 08/15/2019 08/15/19 | For Sale | $6,750,000 | -- | $1,013 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $72,963 | $6,561,874 | $3,827,760 | $2,734,114 |
| 2024 | $72,963 | $6,433,210 | $3,752,706 | $2,680,504 |
| 2023 | $71,602 | $6,307,070 | $3,679,124 | $2,627,946 |
| 2022 | $70,649 | $6,183,403 | $3,606,985 | $2,576,418 |
| 2021 | $69,269 | $6,062,160 | $3,536,260 | $2,525,900 |
| 2019 | $30,322 | $2,491,630 | $1,886,020 | $605,610 |
| 2018 | $29,552 | $2,442,795 | $1,849,040 | $593,755 |
| 2016 | $28,492 | $2,347,018 | $1,777,241 | $569,777 |
| 2015 | $27,983 | $2,311,765 | $1,750,546 | $561,219 |
| 2014 | $27,647 | $2,266,482 | $1,716,256 | $550,226 |
Source: Public Records
Agents Affiliated with this Home
-
-
Buyer's Agent in 2019
Jeanevra Calhoun
Beach City Brokers
(310) 543-3536
3 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB19195714
APN: 7511-008-019
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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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