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    Property profile & analytics

    608 Esplanade Redondo Beach, CA 90277-4151

    • Apartment buildings
    • 7,236 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Mar 14, 2025
    $4,850,000
    Value Estimations
    $4,650,000
    Show details
    Cap Rate Potential
    2.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-7878616
    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

    • XL-Lead Consulting / Consultant

    Property Details for 608 Esplanade

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.22 lot acres
    Property size
    7,236 SF
    Zone code
    RBRMD
    Property type
    Apartment buildings
    APN
    7508-006-017
    APU
    7508006017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,650,000
      ML approach
      $4,680,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Redondo Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.389
    Latitude
    33.8329
    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
    $18,850
    $573,522
    $933,855
    $1,507,377
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $340,000
      5,950 SF

      104 Helberta Ave

      APARTMENT HOUSE (5+ UNITS) • 5,950 SF
      104 Helberta Ave, Redondo Beach, CA 90277-3122
      View Details
    • Value Estimation
      $445,000
      17,649 SF

      5858 Pacific Coast Hwy

      APARTMENT HOUSE (5+ UNITS) • 17,649 SF
      5858 Pacific Coast Hwy, Redondo Beach, CA 90277-6126
      View Details
    • Value Estimation
      $370,000
      8,476 SF

      527 Ave G G

      APARTMENT HOUSE (5+ UNITS) • 8,476 SF
      527 Ave G G, Redondo Beach, CA 90277-6045
      View Details
    • Value Estimation
      $640,000
      23,446 SF

      200 Ave G G

      APARTMENT HOUSE (5+ UNITS) • 23,446 SF
      200 Ave G G, Redondo Beach, CA 90277-5036
      View Details
    • Value Estimation
      $445,000
      15,052 SF

      205 Ave H H

      APARTMENT HOUSE (5+ UNITS) • 15,052 SF
      205 Ave H H, Redondo Beach, CA 90277-5241
      View Details
    • Value Estimation
      $330,000
      6,570 SF

      505 Ave G G

      APARTMENT HOUSE (5+ UNITS) • 6,570 SF
      505 Ave G G, Redondo Beach, CA 90277-6018
      View Details

    Similar Nearby for Sale

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      Redondo Beach Apartment Complex

      Turnkey 9-unit apartment complex in prime Beryl Heights location.
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      Redondo Beach 8-Unit Apartment Building

      Desirable 8-unit apartment building near the Esplanade with ocean views.
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      Hollywood Riviera Corner Unit Condo

      Rare 920 sqft one-bedroom condo with Palos Verdes views.
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      Redondo Beach Apartment Building Opportunity

      Eleven-unit apartment building near the ocean in Redondo Beach, CA.
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      Charming Redondo Beach Duplex

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    Similar Nearby for Lease

    • $2,295 /Mo

      Apartment Near Redondo Beach Pier

      Apartment with pool, spa, and recreation room near the beach.
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      View Details
    • $3,600 /Mo
      779 SF

      Oceanfront Living at Casa Bahia

      Oceanfront condo with views, balcony, and community amenities.
      555 Esplanade, Redondo Beach, CA 90277
      View Details
    • $30 SF/Yr
      10,569 SF

      Redondo Beach Office Space

      Beach Cities Office, 2,136 SF Available
      800 Torrance Blvd, Redondo Beach, CA 90277
      View Details
    • Contact for pricing

      Redondo Beach Office Building

      Fully leased office building in Redondo Beach, California.
      324-326 S Pacific Coast Hwy, Redondo Beach, CA 90277
      View Details
    • $3 SF/Yr
      2,000 SF

      Redondo Beach Medical/Dental Suites

      Medical, dental, and office suites available for immediate occupancy.
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      View Details
    • Contact for pricing

      Fully Leased Retail Property

      Retail property in Redondo Beach, CA, currently 100% leased.
      1202-1262 Beryl St, Redondo Beach, CA 90277
      View Details
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    608 Esplanade
    Redondo Beach, CA 90277-4151
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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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