608 Esplanade Redondo Beach, CA 90277
10
Beds
10
Baths
7,236
Sq Ft
9,639
Sq Ft Lot
Highlights
- No HOA
- Laundry Room
- Landscaped
- Alta Vista Elementary School Rated A+
About This Home
As of March 2025Incredible 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.
Last Agent to Sell the Property
Buckingham Investments, Inc Brokerage Phone: 310-561-4776 License #01908153 Listed on: 01/29/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1956
Lot Details
- 9,639 Sq Ft Lot
- Two or More Common Walls
- Landscaped
Parking
- 2 Open Parking Spaces
- 8 Car Garage
Home Design
- Apartment
Interior Spaces
- 7,236 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 10 Bedrooms
- 10 Bathrooms
Location
- Suburban Location
Listing and Financial Details
- Legal Lot and Block 19 / 188
- Tax Tract Number 621
- Assessor Parcel Number 7508006017
- $1 per year additional tax assessments
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 7 Units
Amenities
- Laundry Facilities
Building Details
- 8 Separate Electric Meters
- 8 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,345
- Fuel Expense $2,345
- Gardener Expense $1,350
- Insurance Expense $12,663
- Maintenance Expense $12,320
- Other Expense $321
- Professional Management Expense $12,320
- Trash Expense $2,345
- Water Sewer Expense $2,346
- New Taxes Expense $62,500
- Operating Expense $111,672
- Gross Income $259,320
- Net Operating Income $134,721
Similar Home in Redondo Beach, CA
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/14/2025 03/14/25 | Sold | $4,850,000 | -3.0% | $670 / Sq Ft |
| 02/13/2025 02/13/25 | Pending | -- | -- | -- |
| 01/29/2025 01/29/25 | For Sale | $5,000,000 | -- | $691 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Seller's Agent in 2025
Anthony Walker
Buckingham Investments, Inc
(310) 982-7055
2 in this area
77 Total Sales
-
Seller Co-Listing Agent in 2025
Josh Ess
Buckingham Investments, Inc
(310) 982-7055
1 in this area
27 Total Sales
-
R
Buyer's Agent in 2025
Romy Timm
The Realestate Group
(310) 540-0072
1 in this area
7 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB25021284
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