1606 Esplanade, Redondo Beach, CA 90277

Property Description

This 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.