Redondo Beach, CA 90277,229 Avenue I

$7,000,000

Est. payment /mo

$7,600,000

7.9%
Est.Price: ?

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229 Avenue I Redondo Beach, CA 90277

0.4 Acres Lot

SOLD DATE : 03/01/2023

Key Details

Sold Price $7,000,000

Property Type Commercial

Sub Type MixedUse

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SB21003869

Sold Date 03/01/23

HOA Y/N No

Year Built 1987

Lot Size 0.398 Acres

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.

Location

State CA

County Los Angeles

Area 128 - Hollywood Riviera

Interior

Heating Electric, ForcedAir

Cooling CentralAir, Zoned

Fireplace No

Laundry None

Exterior

Utilities Available CableAvailable, ElectricityConnected, NaturalGasConnected, PhoneAvailable, SewerConnected

Roof Type Composition

Building

Lot Description SprinklersInFront, Level, NearPublicTransit, SprinklerSystem

Story 3

Water Public

Others

Tax ID 7511007045

Security Features FireSprinklerSystem,SecurityGate

Acceptable Financing Cash, CashtoNewLoan, Item1031Exchange

Listing Terms Cash, CashtoNewLoan, Item1031Exchange

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Jim Menton • The Realestate Group
Bought with Shannon Yoon • NONMEMBER MRML

John Hickey

Agent | License ID: 00985364

+1(818) 434-6696

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