229 Avenue I, Redondo Beach, CA 90277 | SB21003869 | Vista Sotheby’s International Realty

229 Avenue I $7,900,000

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    229 Avenue I Redondo Beach, CA 90277

    • 10,480 sq. ft.
    • 0.40 Acres
    • Commercial Sale
    • MLS# SB21003869
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    Views: 787 Days On Market: 503

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    Property Details

    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.

    • General Features
      • Buyer Compensation $ 100000.000
      • County Or Parish Los Angeles
      • Number Of Units Total 5
      • YearBuilt 1987
    • Building Features
      • Cooling Central Air, Zoned
      • Electric Electricity - On Property
      • Heating Forced Air,Electric
      • Laundry Features None
      • Roof Composition
    • Property Features
      • Lot Features Lot 10000-19999 Sqft, Near Public Transit, Sprinkler System, Sprinklers In Front
      • Lot Size Acres 0.39

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    Neighborhood

    90277 (Redondo Beach) Demographics

    44 Median Age
    7,056 Population Density (per sq. mile)
    71% College Educated
    $106,185 Estimated Median Income
    7,329 Estimated Total Home Owners
    8,515 Estimated Total Renters
    46% / 54% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    34,827 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $1,457,675 Median Sales Price
    32 Homes Sold
    50 New On Market

    Average Days on Market

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $7,900,000
        1/7/2021 5:28:00 PM New in Database Source: Multiple Listing Service New Value: $7,900,000

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        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Based on information from California Regional Multiple Listing Service, Inc. as of 5/25/2022 5:18:40 AM. 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.

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.