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502 N Elena Avenue #1-7

Redondo Beach, CA 90277
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Bed 0

Bed

Bath 0

Bath

SqFt4,840

Sqft

SqFt6,017

Sqft(Lot)

***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 stat es 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

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $4,195,000

AD Id : 72638482

MLS Id : OC26003145

Lot Size : 6,017 Sqft

Living Area Size : 4,840

Year Built : 1964

Garage : 10

County : Los Angeles

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Feature Features

  • Heating & Cooling

    Has Heating: Yes Heating: Radiant

  • Building Information

    Year Built: 1964
    Building Area Total: 4840
    Stories: 2
    Pool Features: None
    Private Pool: No

  • Lot Information

    Main Square Feet: 6017 Lot Size Acres: 0.1381 Lot Size Source: Assessor Lot Size Square Feet: 6,017 Lot Description: 6-10 Units/Acre

  • Listing Price Information

    Listing Price: $4195000
    Original Price: $4350000
    Cash, Cash to New Loan

  • Tax Information

    Parcel Number: 7503011029 Tax Lot: 34 Tax Block: 145

  • Parking Information

    Parking Total: 12 Assigned

    Garage Information

    Has Garage: Yes Garage Space: 10

  • Location Information

    Direction: West of PCH & North of Beryl WaterSource: Public
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Nearby Home Value

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611 S Prospect Avenue #.., Redondo Beach, CA, 90277 $688,000 2 2 975 975 SqFt
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802 Camino Real #103, Redondo Beach, CA, 90277 $525,000 1 1 669 669 SqFt
802 Camino Real #303, Redondo Beach, CA, 90277 $549,000 1 1 800 800 SqFt
1920 S Pacific Coast Hw.., Redondo Beach, CA, 90277 $988,000 1 1 1,031 1,031 SqFt
100 S Catalina Avenue #A, Redondo Beach, CA, 90277 $1,410,000 3 3 1,586 1,586 SqFt

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 07/30/2026 @ 17:15

MLS: OC26003145 LISTED BY: Jonathan Mitchell, Kidder Mathews of California, Inc 949-557-5000 SOURCE: CRMLS

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