608 Esplanade

Redondo Beach, CA 90277

$5,000,000
Price
10
Beds
10
Baths
7,236 Sq. Ft.
$691 / Sq. Ft.
7,236
Sq. Ft.
$691
per Sq. Ft.

Description

Incredible opportunity to own a rare ocean view generational asset on the Esplanade in Redondo Beach. First time on the market in over 40 years, this huge 7 unit (plus 1 non-conforming) apartment building offers over 7,000 square feet of rentable square footage on a nearly 10,000 square foot lot with 7 garage parking spaces. Enormous unique 2 story owner's unit loft style apartment with jaw-dropping ocean views, beamed ceilings, skylights, direct access elevator, large open concept kitchen, balcony,...Incredible opportunity to own a rare ocean view generational asset on the Esplanade in Redondo Beach. First time on the market in over 40 years, this huge 7 unit (plus 1 non-conforming) apartment building offers over 7,000 square feet of rentable square footage on a nearly 10,000 square foot lot with 7 garage parking spaces. Enormous unique 2 story owner's unit loft style apartment with jaw-dropping ocean views, beamed ceilings, skylights, direct access elevator, large open concept kitchen, balcony, office, den, fireplace, wet bar, and 2 bathrooms. 6 other separately metered spacious apartments including one 2 bed/1 bath unit with ocean views, two 2 bed/2 bath units, and three 1 bed/1 bath units plus one non-conforming studio above the garages in the rear of property (check for ADU potential). Well priced on income for ocean front multifamily at 19X GRM on actual rents with a 30% upside to 14.8X GRM on market rents. Extremely well maintained property with very little deferred maintenance. Newer windows, clean units, and individual water heaters.
  1. Listed by Anthony Walker • DRE #01908153 • Brokerage DRE #01914434 • Buckingham Investments, Inc • 310-561-4776
  2. Listed by Josh Ess • DRE #02035659 • Brokerage DRE #01914434 • Buckingham Investments, Inc

Property Details for 608 Esplanade

Parking Spaces Total
10
Private Pool
No
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
7236
Assessor Parcel Number
7508-006-017
Property Attached YN
true
LISTING UPDATED: 02/14/2025 06:11 AM

Property Details for 608 Esplanade

StatusActive Under Contract
MLS #SB25021284
Days on Market16
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
CountyLos Angeles County

Building Information for 608 Esplanade

Building/Complex608 EsplanadeFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1956Building Size-

Property Information for 608 Esplanade

Income / Expense / Tax Details
Income Details
  • Gross Income: $259,320
  • Gross Scheduled Income: $259,320
  • Net Operating Income: $134,721
  • Gross Multiplier: 19.28
  • Cap Rate: 2.7
Expense Details
  • Operating Expense: $111,672
  • New Taxes Expense: $62,500
  • Gardener Expense: $1,350
  • Fuel Expense: $2,345
  • Licenses Expense: $818
  • Electric Expense: $2,345
  • Insurance Expense: $12,663
  • Maintenance Expense: $12,320
  • Professional Management Expense: $12,320
  • Other Expense: $321
  • Other Expense Description: fire svc
  • Trash Expense: $2,345
  • Water Sewer Expense: $2,346
  • Total Expenses: $111,672
Tax / Assessment Info
  • Tax Block: 188
  • Tax Tract Number: 621...
  • Tax Census Tract: 6213.24
  • CFD/Mello-Roos Fee: $1
  • Tax Lot: 19
Community / Development
Community / Development
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: Ground level
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Landscaped
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,600
  • Unit Type Total Rent: $3,600
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,250
  • Unit Type Total Rent: $2,250
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,025
  • Unit Type Total Rent: $2,025
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,395
  • Unit Type Total Rent: $3,395
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 5000
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,025
  • Unit Type Total Rent: $2,025
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,250
  • Unit Type Total Rent: $3,250
  • Unit Type Pro Forma: 4000
  • Unit Type Type: 7
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1

Property History for 608 Esplanade

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 608 Esplanade

Taxable ValueLand$573,522Additions$933,855Total$1,507,377
Tax Record2024$18,850 ($1,571 / month)
Home Facts
Total Finished SqFt7,236 SqFtAbove Grade Finished SqFt7,236 SqFtLot Size9,637 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningRBRMDCountyLOS ANGELESAPN7508-006-017

Schools near 608 Esplanade

This home is within Redondo Beach Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Alta Vista Elementary School
PublicK to 5

Parras (Nick G.) Middle School
Public6 to 8

Redondo Union High School
Public9 to 12

Redondo Beach Learning Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Buckingham Investments, Inc, Anthony Walker, DRE #01908153; Buckingham Investments, Inc, Josh Ess, DRE #02035659

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.