Vacant Quadplex with
For Sale
$2,289,000
Pending
1902 Flagler, Redondo Beach, CA 90278
Four residential units offer a documented mix of two-bedroom and three-bedroom layouts with private garage parking.
Property Size4,724 SF
Lot Size0.17 Acres
Days on Market129
Property Features for 1902 Flagler
General Information
Standard status
Pending
Size
4,724 SF
Total Parking Spaces
9
Lot size
0.17 Acres
Property subtype
Investment
Zoning
RBR-3
Units
Unit Mix
2 x 3BR/2BA, 2 x 2BR/2BA
Multifamily Units
4
Building Details
Building Size
4,724 SF
Year Built
1958
Buildings
1
Stories
2
Units
4
Construction
mid-century
Listing Agency:
Lyon Stahl Investment Real Estate
(310) 259-7556
Listed By:
Cameron Samimi · License #02035763
Source:
Elliman
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 30 at 5:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lyon Stahl Investment Real Estate
Investment Insights
Based on property information with market context.
This vacant quadplex at 1902 Flagler in Redondo Beach contains 4,724 SF on a 7,500 SF lot. The unit mix includes two 3-bed/2-bath residences and two 2-bed/2-bath residences, providing a range of residential layouts within the existing structure. Built in 1958, the property has mid-century exterior character and is positioned for renovation.
Parking includes four garages plus five additional tandem spaces. The RBR-3 lot is described as supporting an infill strategy, with two detached rear garages identified for potential conversion into 2+2 ADUs, subject to applicable approvals and requirements. The property is near the beach, employment hubs, and tourist attractions, with a bike score of 84 and a walk score of 90.
Parking includes four garages plus five additional tandem spaces. The RBR-3 lot is described as supporting an infill strategy, with two detached rear garages identified for potential conversion into 2+2 ADUs, subject to applicable approvals and requirements. The property is near the beach, employment hubs, and tourist attractions, with a bike score of 84 and a walk score of 90.
Key Highlights
- 4,724 SF quadplex on a 7,500 SF lot
- Unit mix includes two 3‑bed/2‑bath and two 2‑bed/2‑bath residences
- Delivered fully vacant for renovation and tenant placement
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$82,498
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,649,960
$1.6M
Cap Rate 7%
$1,178,543
$1.2M
Cap Rate 9%
$916,644
$916.6K
Market Conditions
NOI Build-Up for 4,724 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$127.5K $27.00/SF
− Vacancy
−$9.7K −$2.05/SF
EGI
$117.9K $24.95/SF
− OpEx
−$35.4K −$7.48/SF
NOI
$82.5K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,649,960
Cap Rate 7%
$1,178,543
Cap Rate 9%
$916,644
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.37M
NOI $82,498 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$1.09M
$950.2K – $1.27M
NOI $76,013 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,045 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,495
Businesses Nearby
Explore this area
Business Placement
Demographics for 90278, CA
42,188
Population
16,628
Households
2.5
Avg Household Size
39
Median Age
62%
College-Educated
96%
High-School Grad
3.7 sq mi
ZIP Area
11,402
Density / Sq Mi
$148,581
Median Household Income
$86,999
Median Earnings
$2,417
Median Rent
$1,195,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer a documented mix of two-bedroom and three-bedroom layouts with private garage parking.
Where is this quadplex located?
The property is located at 1902 Flagler Redondo Beach, CA.
What is the asking price?
The asking price for this property is $2,289,000.
What are key features of this property?
This property features: 4,724 SF quadplex on a 7,500 SF lot; Unit mix includes two 3‑bed/2‑bath and two 2‑bed/2‑bath residences; Delivered fully vacant for renovation and tenant placement
