***Price Reduced $155,000***This 7-unit apartment community offers investors<\/p>\n
desirable amenities and an exceptional location<\/p>\n
within Redondo Beach in the South Bay. The property<\/p>\n
features a diverse unit mix of three, two & onebedroom<\/p>\n
units with functional layouts that consistently<\/p>\n
attract long-term tenants. Residents benefit from onsite<\/p>\n
laundry and individual garages. The residences<\/p>\n
in the rear further distinguish themselves with select<\/p>\n
townhouse units and large private patios, offering<\/p>\n
a more spacious, modern living experience. This<\/p>\n
combination of location, design, and amenities<\/p>\n
ensures strong renter demand and positions the<\/p>\n
property for substantial rent and income growth as<\/p>\n
units are modernized and brought to market levels. \u2022 6 of 7 units have been renovated to<\/p>\n
different states that include: new plumbing,<\/p>\n
electrical panels, kitchens, bathrooms, flooring,<\/p>\n
and hardware.<\/p>\n
\u2022 Demand Tailwinds: The severe monthly cost<\/p>\n
differential between renting ($3,550 avg.)<\/p>\n
and owning ($11,248 avg.) in Redondo Beach<\/p>\n
underscores ongoing renter demand, especially<\/p>\n
among workforce households priced out of<\/p>\n
homeownership. \u2022 Proven Rent Growth: Historical rent growth<\/p>\n
in Redondo Beach has been both strong and resilient, with continued increases forecast<\/p>\n
through the end of the decade. \u2022 With affordability challenges driving sustained<\/p>\n
renter demand, and historical trends pointing toward ongoing rent appreciation, Park<\/p>\n
Promenade provides investors a compelling opportunity for both near-term value creation<\/p>\n
and long-term growth. \u2022 100% occupied. well-managed, & maintained<\/p>\n
\u2022 Individual garages & select private patios \u2022 Excellent unit mix of 3, 2 & 1 bedroom units<\/p>\n
\u2022 New electrical panels<\/p>","protected":false},"excerpt":{"rendered":"
***Price Reduced $155,000***This 7-unit apartment community offers investors desirable amenities and an exceptional location within Redondo Beach in the South Bay. The property features a diverse unit mix of three, two & onebedroom units with functional layouts that consistently attract long-term tenants. Residents benefit from onsite laundry and individual garages. The residences in the rear […]<\/p>\n","protected":false},"author":1,"featured_media":1794546,"parent":0,"menu_order":0,"template":"","property_type":[74],"property_status":[1034],"property_feature":[99,100,107],"property_label":[85],"property_country":[],"property_state":[103],"property_city":[348],"property_area":[],"class_list":["post-1794535","property","type-property","status-publish","has-post-thumbnail","hentry","property_type-apartment","property_status-residential-income","property_feature-has-garage","property_feature-has-heating-system","property_feature-property-attached","property_label-active","property_state-los-angeles","property_city-redondo-beach"],"property_meta":{"ListingKey":["1150460804"],"MLSimport_item_inserted":["94072"],"mlsImportItemStatusDelete":["a:11:{i:0;s:6:\"Active\";i:1;s:19:\"ActiveUnderContract\";i:2;s:8:\"Canceled\";i:3;s:6:\"Closed\";i:4;s:10:\"ComingSoon\";i:5;s:6:\"Delete\";i:6;s:7:\"Expired\";i:7;s:4:\"Hold\";i:8;s:10:\"Incomplete\";i:9;s:7:\"Pending\";i:10;s:9:\"Withdrawn\";}"],"fave_property_land_postfix":["Square 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property_state with terms [\"Los Angeles\"]<\/br>Updated Taxonomy property_label with terms [\"Active\"]<\/br>Updated Taxonomy property_feature with terms [\"Has Garage\",\"Has Heating System\",\"Property Attached\"]<\/br>Updated Meta fave_property_land_postfix with meta_value Square Feet<\/br>Updated Meta fave_property_garage with meta_value 10<\/br>Updated Meta fave_property_year with meta_value 1964<\/br>Updated Meta fave_property_address with meta_value Elena<\/br>Updated Meta fave_property_price with meta_value 4195000<\/br>Updated Meta fave_property_land with meta_value 0.1381<\/br>Updated Meta fave_property_country with meta_value US<\/br>Updated Meta fave_property_zip with meta_value 90277<\/br>Updated Meta fave_property_map_address with meta_value 502 N Elena Avenue 1-7<\/br>Updated Meta houzez_geolocation_long with meta_value -118.39038<\/br>Updated Meta houzez_geolocation_lat with meta_value 33.848002<\/br>Updated Meta fave_property_id with meta_value OC26003145<\/br>Update Coordinates Meta (having houzez_geolocation_long ) with 33.848002,-118.39038<\/br>Property with ID 1794535 Updated CUSTOM post meta fave_contact-mail original ListAgentEmail with value jon.mitchell@kidder.com<\/br>Property with ID 1794535 Updated CUSTOM post meta fave_brokered-by original ListOfficeName with value Kidder Mathews of California, Inc<\/br>Property with ID 1794535 Updated CUSTOM post meta fave_listed-by original ListAgentFullName with value Jonathan Mitchell<\/br>Property with ID 1794535 Updated CUSTOM post meta fave_contact-phone original ShowingContactPhone with value 9495575021<\/br>Property with ID 1794535 Updated CUSTOM post meta fave_dre original ListAgentStateLicense with value 01227852<\/br><\/br>Updated title to 502 N Elena Avenue 1-7, Redondo Beach, CA 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