Jeffrey Bullock
[email protected]502 N Elena AVE #1-7 Redondo Beach, CA 90277
6,015 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26003145
HOA Y/N No
Year Built 1964
Lot Size 6,015 Sqft
Property Sub-Type Apartment
Property Description
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 patios • Excellent unit mix of 3, 2 & 1 bedroom units
• New electrical panels
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Heating Radiant
Fireplace No
Laundry Common Area
Exterior
Parking Features Assigned
Garage Spaces 10.0
Garage Description 10.0
Pool None
Community Features Biking, Curbs, Park
Total Parking Spaces 12
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7503011029
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES
- 10
Hermosa View Elementary School
Public | KG - 2
- 10
Alta Vista Elementary School
Public | KG - 5
- 10
Tulita Elementary School
Public | KG - 5
- 10
Anza Elementary School
Public | KG - 5
- 10
Seaside Elementary
Public | KG - 5
- 9
Robinson Elementary School
Public | KG - 5
- 9
Pacific Elementary School
Public | KG - 5
- 9
Hermosa Valley Elementary School
Public | 3 - 8
- 9
Meadows Elementary School
Public | KG - 5
- 9
Pennekamp Elementary School
Public | KG - 5
- 9
Beryl Heights Elementary School
Public | KG - 5
- 9
Jefferson Elementary School
Public | KG - 5
- 9
Towers Elementary School
Public | KG - 5
- 9
Lincoln Elementary School
Public | KG - 5
- 8
Birney Elementary School
Public | KG - 5
- 8
Riviera Elementary
Public | KG - 5
- 8
Madison Elementary School
Public | KG - 5
- 8
Victor Elementary School
Public | KG - 5
- 8
Washington Elementary School
Public | KG - 5
- 8
Arnold Elementary School
Public | KG - 5
- 10
Manhattan Beach Middle School
Public | 6 - 8
- 9
Parras Middle School
Public | 6 - 8
- 9
Richardson Middle School
Public | 6 - 8
- 9
Adams Middle School
Public | 6 - 8
- 8
Calle Mayor Middle School
Public | 6 - 8
- 8
Bert Lynn Middle School
Public | 6 - 8
- 8
Jefferson Middle School
Public | 6 - 8
- 8
Magruder Middle School
Public | 6 - 8
- 6
Jane Addams Middle School
Public | 6 - 8
- 6
Will Rogers Middle School
Public | 6 - 8
- 0
Fusion Academy South Bay
Private | 6 - 12
- 0
Redondo Beach Learning Academy
Public | 8 - 12
- 10
Mira Costa High School
Public | 9 - 12
- 10
South High School
Public | 9 - 12
- 9
Redondo Union High School
Public | 9 - 12
- 9
West High School
Public | 9 - 12
- 6
Environmental Charter High School
Public | 9 - 12
- 0
Redondo Shores High (Continuation)
Public | 9 - 12
- 0
South Bay Academy Community Day
Public | 9 - 12