Active

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 : Residential Income

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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Map

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Feature Features

  • Water/Sewer

    Water Source: Public Sewer: Public Sewer
  • Heating Source

    Radiant Has Heating

  • Building Information

    Year Built: 1964 Building Area Total: 4,840
  • Pool Features

    None

    Laundry Features

    Common Area

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1381
  • Lot Size Source: Assessor Lot Size Square Feet: 6017

  • Listing Price Information

    Original List Price: 4,195,000 Listing Contract Date: 2026-01-02
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 7503011029

  • Garage and Parking

    Garage Description: Assigned

    Homeowners Association

  • Rental Info

    Lease Term: Negotiable Tenant Pays: Cable TV,Electricity,Gas

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: 157 - S Redondo Bch W of PCH Directions: West of PCH & North of Beryl Source Property Type: Residential Income Area: 157 - S Redondo Bch W of PCH Property SubType: Apartment
  • Building and Construction

    Property Age: 62 Structure Type: Apartment Year Built Source: Public Records Entry Level: 1 Entry Location: Street Property Attached: Yes Levels or Stories: Two Building Total Stories: 2
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Nearby Home Value

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1108 Camino Real #406, Redondo Beach, CA, 90277 $665,000 2 2 895 895 SqFt
1108 Camino Real #409, Redondo Beach, CA, 90277 $650,000 2 2 884 884 SqFt
1108 Camino Real #306, Redondo Beach, CA, 90277 $625,000 2 1 895 895 SqFt
603 S Prospect Avenue #.., Redondo Beach, CA, 90277 $549,000 1 1 669 669 SqFt
601 S Prospect #103, Redondo Beach, CA, 90277 $524,999 1 1 709 709 SqFt
607 S Prospect #306, Redondo Beach, CA, 90277 $549,000 1 1 669 669 SqFt
906 Camino Real #202, Redondo Beach, CA, 90277 $525,000 1 1 750 750 SqFt
802 Camino Real #105, Redondo Beach, CA, 90277 $549,000 1 1 669 669 SqFt
826 Camino Real #202, Redondo Beach, CA, 90277 $680,000 2 2 949 949 SqFt
1920 S Pacific Coast Hw.., Redondo Beach, CA, 90277 $998,000 1 1 1,031 1,031 SqFt

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ByOwner last updated this listing 06/15/2026 @ 03:21

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

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