Redondo Beach, CA 90277,1870 S Elena AVE
Redondo Beach, CA 90277,1870 S Elena AVE
Redondo Beach, CA 90277,1870 S Elena AVE
Redondo Beach, CA 90277,1870 S Elena AVE
Redondo Beach, CA 90277,1870 S Elena AVE
Redondo Beach, CA 90277,1870 S Elena AVE
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$7,000,000

$7,700,000

9.1%
Est.Price: ?

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Est. payment /mo

0.33 Acres Lot


SOLD DATE : 09/27/2024

Key Details

Sold Price $7,000,000

Property Type Commercial

Sub Type Retail

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SB24036864

Sold Date 09/27/24

HOA Y/N No

Year Built 2008

Tax Year 2023

Lot Size 0.331 Acres

Lot Dimensions Assessor

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.

Location

State CA

County Los Angeles

Area 157 - S Redondo Bch W Of Pch

Zoning C-2

Interior

Heating Forced Air

Cooling Central Air

Fireplace No

Laundry None

Exterior

Fence None

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

Roof Type Composition,Flat

Building

Lot Description Corner Lot, Irregular Lot, Landscaped, Level, Street Level

Story 1

Water Public

Others

Tax ID 7511014009

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Financing Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Jay Horrell • Horrell Realtors • 310-729-6441
Bought with Jay Horrell • Horrell Realtors
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2603 Camino Ramon, Ramon, CA, 94583

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