229 Avenue I, Redondo Beach, CA 90277

$8,950,000
List Price
$8,950,000
Price Change
▼ $300,000 1618099262
Status
ACTIVE
MLS#
SB21003869
Year Built
1987
Lot Size
17,344
Acres
0.4
Lot Location
Sprinklers In Front, Level, Near Public Transit, SprinklerSystem
Days on Market
196
Property Type
Commercial
Property Sub Type
Mixed Use

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.

Additional Information

Heat
Electric, Forced Air
Cooling
Yes
Cooling Description
Central Air, Zoned
Exterior Construction
Glass, Concrete, Stucco, Steel
Roof
Composition
Water
Public
Number Of Units Total
5
Gross Scheduled Income
$400,452
Operating Expense
142836

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Jim Menton from The Realestate Group

Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.