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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2605 Gates Ave Redondo Beach, CA 90278-2237

    • Apartment buildings
    • 4,528 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Dec 10, 2021
    $2,755,027
    Value Estimations
    $2,700,000
    Show details
    Cap Rate Potential
    2.9%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-6898327
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2605 Gates Ave

    Year built
    1961
    Construction
    WOOD
    Lot size
    0.17 lot acres
    Property size
    4,528 SF
    Zone code
    RBR-3
    Property type
    Apartment buildings
    APN
    4153-027-014
    APU
    4153027014

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,510,000
      ML approach
      $2,545,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,275,000
      Market price range: $1.55M - $3.28M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,375,000
      Current use
      RETAIL STORES
      $3,105,000
      Change: +31% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,755,000
      Change: +16% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,640,000
      Change: +11% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,095,000
      Change: -12% Conversion: Difficult
      MEDICAL BUILDING
      $2,060,000
      Change: -13% Conversion: Moderate
      OFFICE BUILDING
      $2,030,000
      Change: -15% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Redondo Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.364
    Latitude
    33.8788
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $34,155
    $1,248,480
    $1,618,022
    $2,866,502
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $355,000
      9,634 SF

      2106 Bataan Rd

      APARTMENT HOUSE (5+ UNITS) • 9,634 SF
      2106 Bataan Rd, Redondo Beach, CA 90278
      View Details
    • Value Estimation
      $285,000
      2,934 SF

      2616 Curtis Ave

      APARTMENT HOUSE (5+ UNITS) • 2,934 SF
      2616 Curtis Ave, Redondo Beach, CA 90278-2230
      View Details
    • Value Estimation
      $435,000
      5,652 SF

      1901 Phelan Ln

      APARTMENT HOUSE (5+ UNITS) • 5,652 SF
      1901 Phelan Ln, Redondo Beach, CA 90278-3224
      View Details
    • Value Estimation
      $435,000
      18,119 SF

      2022 Artesia Blvd

      APARTMENT HOUSE (5+ UNITS) • 18,119 SF
      2022 Artesia Blvd, Redondo Beach, CA 90278
      View Details
    • Value Estimation
      $300,000
      6,499 SF

      2609 Gates Ave

      APARTMENT HOUSE (5+ UNITS) • 6,499 SF
      2609 Gates Ave, Redondo Beach, CA 90278-2257
      View Details
    • Value Estimation
      $415,000
      7,968 SF

      2514 Grant Ave

      APARTMENT HOUSE (5+ UNITS) • 7,968 SF
      2514 Grant Ave, Redondo Beach, CA 90278-3836
      View Details

    Similar Nearby for Sale

    • $4,175,000

      Redondo Beach Turnkey Apartment Community

      Turnkey 6-unit apartment community in the heart of Redondo Beach.
      2602 Carnegie Ln, Redondo Beach, CA 90278
      View Details
    • $2,500,000
      4,132 SF

      North Redondo Beach Multifamily Investment

      Five-unit property in North Redondo Beach, ideal for investors.
      2227 Mathews Ave, Redondo Beach, CA 90278
      View Details
    • $3,775,000

      Remodeled Redondo Beach Multifamily Property

      Five-unit property in Redondo Beach with modern upgrades and strong income.
      2420 Grant Ave, Redondo Beach, CA 90278
      View Details
    • $16,900,000

      Redondo Beach Multifamily Investment Opportunity

      Rare 41-unit multifamily property in prime Redondo Beach location.
      2700 Aviation Blvd, Redondo Beach, CA 90278
      View Details
    • $3,675,000
      4,250 SF

      Remodeled Redondo Beach Multifamily Property

      Five-unit property in Redondo Beach with modern upgrades.
      Grant Ave, Redondo Beach, CA 90278
      View Details
    • $2,599,000
      Pending

      Redondo Beach Quadruplex Investment Opportunity

      Four-unit complex in North Redondo Beach, fully tenant occupied.
      2217 Voorhees Ave, Redondo Beach, CA 90278
      View Details

    Similar Nearby for Lease

    • $3,395 /Mo

      Redondo Beach Apartments with Amenities

      Apartments in Redondo Beach with pool, spa, and tennis court.
      18225 Kingsdale Ave, Redondo Beach, CA 90278
      View Details
    • $6,500 /Mo

      Redondo Beach Townhome Rental

      Modern townhome in Redondo Beach with designer finishes.
      2317 Vanderbilt Ln, Redondo Beach, CA 90278
      View Details
    • Contact for pricing
      51,229 SF

      Redondo Beach Industrial Facility

      Freestanding building with fenced yard, near the beach.
      3730 Redondo Beach Ave, Redondo Beach, CA 90278
      View Details
    • $2 SF/Yr
      950 SF

      Retail Space Available For Rent

      Retail space available for rent in Redondo Beach, CA.
      2205 Artesia Blvd, Redondo Beach, CA 90278
      View Details
    • $1.79 SF/Yr
      953 SF

      Redondo Beach Office Space Available

      Second floor office space with open bullpen, available now.
      2625-2627 Manhattan Beach Blvd, Redondo Beach, CA 90278
      View Details
    • $37 SF/Yr
      86,000 SF

      Manhattan Beach Blvd Office Space

      Executive Suites, Beach Cities Location
      2005 Manhattan Beach Blvd, Redondo Beach, CA 90278
      View Details
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    2605 Gates Ave
    Redondo Beach, CA 90278-2237
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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