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1870 S Elena Avenue

Redondo Beach, CA 90277
  • $7,700,000
  • STATUS: Active Under Contract
  • ON SITE: 95 Days
  • ID#: SB24036864
Under Contract
UPDATED: 60 min ago
$7,700,000
  • 0
    BEDS
  • 0.33
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
2008
County:

School Ratings & Info

Listing Agent(s): Jay Horrell of Horrell Realtors (310-373-7777)


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-Users specific needs. Or as an investor to capitalize on the Riviera Villages 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 citys laid-back coastal lifestyle and unique blend of urban sophistication.The Village is not just about shopping; its also a culinary destination. A diverse range of restaurants and cafes, with inviting outdoor seating, cater to a variety of tastes. Whether youre in the mood for artisanal coffee, international cuisine, or farm-to-table dining, youll find many options.PLEASE DO NOT DISTURB THE TENANTS.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T19:31:48.303. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
www.playavistaliving.com/homes/148497876
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1870 S Elena Avenue Redondo Beach, CA 90277

  • Price: $7,700,000
  • Status: Active Under Contract
  • On Site: 95 Days
  • Updated: 60 min ago
  • ID#: SB24036864
0
Beds
0
Baths
0
½ Baths
0.33
Acres
2008
Built
Neighborhood:
157 - S Redondo Bch W of PCH
County:
Los Angeles
Area:
157 - S Redondo Bch W of PCH
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-Users specific needs. Or as an investor to capitalize on the Riviera Villages 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 citys laid-back coastal lifestyle and unique blend of urban sophistication.The Village is not just about shopping; its also a culinary destination. A diverse range of restaurants and cafes, with inviting outdoor seating, cater to a variety of tastes. Whether youre in the mood for artisanal coffee, international cuisine, or farm-to-table dining, youll find many options.PLEASE DO NOT DISTURB THE TENANTS.
Exterior Features

Construction Materials FrameStucco Entry Level 1 Fencing None Lot Features Corner LotIrregular LotLandscapedLevelStreet Level Roof CompositionFlat Sign On Property YN No

Interior Features

Cooling Central Air Cooling YN Yes Heating Forced Air Heating YN Yes

Property Features

Additional Parcels YN No Business Type Food & BeverageFinancialRestaurantRetail Cap Rate 4.7 Common Interest None Current Financing Conventional Electric Electricity - On Property Electric Expense 1338 Gross Scheduled Income 363684 Insurance Expense 6837 Land Lease YN No Laundry Features None Lease Considered YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan1031 Exchange Maintenance Expense 1224 Number Of Units Leased 2 Other Expense 2150 Property Sub Type Retail Special Listing Conditions Standard Tax Year 2023 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Water Sewer Expense 3488 Water Source Public Zoning C-2



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T19:31:48.303. 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 Team Tami | Palm Realty Boutique. Licensed in the State of California, USA.
 
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Team Tami | Palm Realty Boutique
323 Culver Blvd.
Playa del Rey CA, 90293
Listing Agent(s): Jay Horrell of Horrell Realtors (310-373-7777)