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1870 S Elena Avenue, Redondo Beach, CA 90277
$7,700,000
1870 S Elena Avenue, Redondo Beach, CA 90277View this property at 1870 S Elena Avenue, Redondo Beach, CA 90277
1870 S Elena AvenueRedondo BeachCA90277
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Property Description
A rare opportunity for an investor or owner user to purchase a generational trophy property in the heart of Riviera Village. This property is ideally suited for an owner-user seeking premium commercial space or an investor looking for lucrative returns. The flexibility of the current tenancy allows for easy adaptation to an Owner-User's specific needs. Or as an investor to capitalize on the Riviera Village's high rental rate, ensuring a rewarding long-term investment. This property is a NNN offering with $364,000 current NOI. In 2025 the annual rental income increases to $386,615 providing a 5% cap rate.
This Jewel Box was constructed in 2008, the newest built retail space offered for sale in Riviera Village in decades. Consisting of 5,265 square feet of prime versatile retail space. A restaurant occupies 2,041 sq. ft. A retail store front occupies the remaining space which could be divided to create two separate retail store fronts. Positioned on a high visibility corner, four (4) parcels totaling 14,430 square feet with a combined 125 feet of frontage on Catalina Avenue and Elena Ave. The property enjoys heightened visibility and foot traffic, ensuring constant exposure to a vibrant customer base. Convenience and accessibility are at the forefront with twenty one (21) parking spaces, making it easy for customers to visit this high-profile walking street location. Riviera Village in Redondo Beach, California is a charming and vibrant destination that perfectly encapsulates the city's laid-back coastal lifestyle and unique blend of urban sophistication.
The "Village" is not just about shopping; it's also a culinary destination. A diverse range of restaurants and cafes, with inviting outdoor seating, cater to a variety of tastes. Whether you're in the mood for artisanal coffee, international cuisine, or farm-to-table dining, you'll find many options.
PLEASE DO NOT DISTURB THE TENANTS.
Full Property Details
Full Property Details for 1870 S Elena Ave
General
- Price: $7,700,000
- Taxes: (2023)
- Status: Active
- Type: Retail
- MLS ID: SB24036864
- Updated: 4/22/2024
- Days on Market: 67 days
- Added to Site: 68 day(s) ago
Business
- Business Type: Financial, Food & Beverage, Restaurant, Retail
Rooms
Other Rooms
- Laundry: None
Location
- County: Los Angeles
- Driving Directions: West of Pacific Coast Hwy. North of Palos Verdes Blvd.
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Forced Air
Utilities
- Utility Description: Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Structural Information
- # Buildings: 1
- Construction: Frame, Stucco
- Roof: Composition, Flat
- Entry Floor Number: 1
- Stories/Levels: 1
- Building Size: 5265
- Square Feet: 5,265
- Retail: 5,265 Sq. Ft.
- Year Built: 2008
- Year Built Source: Assessor
Unit Information
- Occupancy Rate: Occupied
Lot Features
- Lot Size (Acres): 0.3313
- Useable Acres: .3313
- Lot Size (Sq. Ft.): 14,430
- Lot Size Source: Assessor
- Lot Dimensions: 116 x 99 x 165 x 102
- Lot Features: Corner Lot, Landscaped, Level with Street, Lot 10000-19999 Sqft, Irregular Lot, Level
- Lot Description: Corner Lot, Landscaped, Level with Street, Lot 10000-19999 Sqft, Irregular Lot, Level
- Fencing (Description): None
Financial Considerations
- Price Per Sq. Ft.: $1,462
- Tax Year: 2023
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2%
- Investment: Yes
- Property ID: 7511014009
Listed by Horrell Realtors, JayHorrell
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Schools
Schools serving 1870 S Elena Ave
School District:Redondo Beach Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
1520 S Prospect Ave, Redondo Beach, CA 90277 | K-5 | 0.7 mi | |
200 N Lucia Ave, Redondo Beach, CA 90277 | 6-8 | 2.1 mi | |
1 Sea Hawk Way, Redondo Beach, CA 90277 | 9-12 | 2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1870 S Elena Ave
Date
Details
Price
Change
Source
3/12/2024
Listed
$7,700,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1870 S Elena Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$32,833
1%
$2,840,658
2%
2022
$32,402
2%
$2,784,960
2%
2021
$31,895
—
$2,730,354
1%
2020
$31,940
2%
$2,702,358
2%
2019
$31,288
3%
$2,649,371
2%
2018
$30,310
2%
$2,597,423
2%
2017
$29,851
2%
$2,546,494
2%
2016
$29,365
2%
$2,496,564
2%
2015
$28,826
1%
$2,459,064
2%
2014
$28,432
-9%
$2,410,896
-10%
2013
$31,217
—
$2,671,814
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1870 S Elena Ave
1870 S Elena Avenue, Redondo Beach, CA 90277 (MLS# SB24036864) is a Retail property. 1870 S Elena Avenue is currently listed for $7,700,000 and was received on March 12, 2024. Want to learn more about 1870 S Elena Avenue? Do you have questions about finding other Retail real estate for sale in Redondo Beach? You can browse all Redondo Beach real estate or contact a Coldwell Banker agent to request more information.