$13,317,750
$13,995,000
4.8%For more information regarding the value of a property, please contact us for a free consultation.
0.26 Acres Lot
SOLD DATE : 09/26/2024
Key Details
Sold Price $13,317,750
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24124464
Sold Date 09/26/24
HOA Y/N No
Year Built 1958
Tax Year 2023
Lot Size 0.258 Acres
Lot Dimensions Assessor
Property Description
Rare Opportunity to Purchase a 16-Unit Building on the Esplanade with Unobstructed Ocean Views. First time on the market in over 40 years. Developer Could Hold this Property as Income Property Until Ready to Build. Property requires an Astute Investor who Would be Seeking a Property with an Unbeatable Location and 50% Rental Upside. 4% Cap Rate at Market Rents Property of Large Units in a 15,541 Sq. Ft. Building on an 11,233 Sq. Ft. Lot Zoned RBRMD. DO NOT BOTHER TENANTS. ALL OFFERS SUBJECT TO INTERIOR INSPECTION.
Location
State CA
County Los Angeles
Area 157 - S Redondo Bch W Of Pch
Zoning RBRMD
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 16.0
Garage Description 16.0
Pool In Ground, Private
Community Features Curbs, Hiking, Sidewalks
View Y/N Yes
View Coastline, Ocean, Panoramic
Total Parking Spaces 16
Private Pool Yes
Building
Lot Description Corner Lot, Front Yard, Level, Near Public Transit, Street Level
Story 3
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 7509006021
Energy Description 4852.0
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash
Special Listing Condition Standard
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Bought with Karen Witteles • The Realestate Group