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Listing Details

Status
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On Market
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School Ratings & Info

Description

Located in the gateway to Riviera Village, Redondo Beach's most prestigious retail/office area, this 3 story jewel is a generational treasure. It stands just 2 short blocks to Redondo's Esplanade oceanfront. The building includes plentiful ground level and restricted underground parking. Solid long term leases ensure stable income. The entire internal and external space have recently been fashionably updated/remodeled (1st floor still in progress for new tenant), including the elevator. Some spaces feature ocean views and decks. Rooftop cellular sites contribute substantially to income with no owner maintenance at all. This property has never been on the open market since construction and represents a unique opportunity to secure an iconic position in one of the Beach Cities top commercial zone.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T21:31:45.67. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zutila, Inc.. Licensed in the State of California, USA.
www.myorangecountyhomesearcher.com/homes/113086696
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229 Avenue I Redondo Beach, CA 90277

  • Price: $8,500,000
  • Status: Active
  • Updated: 60 min ago
  • ID#: SB21003869
0
Beds
0
Baths
0
½ Baths
0.4
Acres
10,480
SQFT
$811
$/SQFT
1987
Built
Neighborhood:
128 - Hollywood Riviera
County:
Los Angeles
Area:
128 - Hollywood Riviera
Property Description
Located in the gateway to Riviera Village, Redondo Beach's most prestigious retail/office area, this 3 story jewel is a generational treasure. It stands just 2 short blocks to Redondo's Esplanade oceanfront. The building includes plentiful ground level and restricted underground parking. Solid long term leases ensure stable income. The entire internal and external space have recently been fashionably updated/remodeled (1st floor still in progress for new tenant), including the elevator. Some spaces feature ocean views and decks. Rooftop cellular sites contribute substantially to income with no owner maintenance at all. This property has never been on the open market since construction and represents a unique opportunity to secure an iconic position in one of the Beach Cities top commercial zone.
Exterior Features

Construction Materials GlassConcreteStuccoSteel Lot Features Sprinklers In FrontLevelNear Public TransitSprinkler System Roof Composition

Interior Features

Building Features Elevator(S) Cooling Central AirZoned Cooling YN Yes Heating ElectricForced Air Heating YN Yes

Property Features

Additional Parcels YN No Common Interest None Current Financing Conventional Electric Electricity - On Property Gross Scheduled Income 400452 Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Net Operating Income 257616 Operating Expense 142836 Property Sub Type Mixed Use Security Features Fire Sprinkler SystemSecurity Gate Special Listing Conditions Standard Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer Connected Water Source Public

Listing provided courtesy of Jim Menton of The Realestate Group


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-17T21:31:45.67. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Zutila, Inc.. Licensed in the State of California, USA.
 
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