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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
    $4,755,000
    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

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,290,000
      Current use
      RETAIL STORES
      $5,090,000
      Change: +55% Conversion: Difficult
      RESTAURANT
      $4,710,000
      Change: +43% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $4,405,000
      Change: +34% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,215,000
      Change: +28% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $3,345,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $3,290,000
      Change: -0% Conversion: Moderate
      OFFICE BUILDING
      $3,245,000
      Change: -1% 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
    -118.389
    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
      $1,020,000
      4,927 SF

      1007 Juanita Ave

      APARTMENT HOUSE (5+ UNITS) • 4,927 SF
      1007 Juanita Ave, Redondo Beach, CA 90277-4851
      View Details
    • Value Estimation
      $2,205,000
      8,874 SF

      6040 Pacific Coast Hwy

      APARTMENT HOUSE (5+ UNITS) • 8,874 SF
      6040 Pacific Coast Hwy, Redondo Beach, CA 90277-6143
      View Details
    • Value Estimation
      $2,765,000
      18,716 SF

      6202 Pacific Coast Hwy

      APARTMENT HOUSE (5+ UNITS) • 18,716 SF
      6202 Pacific Coast Hwy, Redondo Beach, CA 90277-5928
      View Details
    • Value Estimation
      $705,000
      4,680 SF

      110 Paseo De La Playa

      APARTMENT HOUSE (5+ UNITS) • 4,680 SF
      110 Paseo De La Playa, Redondo Beach, CA 90277-5351
      View Details
    • Value Estimation
      $5,775,000
      53,998 SF

      415 Prospect Ave

      APARTMENT HOUSE (5+ UNITS) • 53,998 SF
      415 Prospect Ave, Redondo Beach, CA 90277-3925
      View Details
    • Value Estimation
      $9,475,000
      74,760 SF

      512 Ave G G

      APARTMENT HOUSE (5+ UNITS) • 74,760 SF
      512 Ave G G, Redondo Beach, CA 90277-6058
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,290 SF

      Updated Corner Unit in Redondo

      Updated 3-bedroom condo with modern amenities in a serene setting.
      824 Camino Real, Redondo Beach, CA 90277
      View Details
    • $7,950,000
      7,584 SF

      Redondo Beach Apartment Building Opportunity

      Eleven-unit apartment building near the ocean in Redondo Beach, CA.
      1505 S Catalina Ave, Redondo Beach, CA 90277
      View Details
    • $1,030,000
      920 SF

      Hollywood Riviera Corner Unit Condo

      Rare 920 sqft one-bedroom condo with Palos Verdes views.
      201 Calle Miramar, Redondo Beach, CA 90277
      View Details
    • Contact for pricing

      Redondo Beach 8-Unit Apartment Building

      Desirable 8-unit apartment building near the Esplanade with ocean views.
      106 Vista Del Mar, Redondo Beach, CA 90277
      View Details
    • Contact for pricing

      Redondo Beach Apartment Complex

      Turnkey 9-unit apartment complex in prime Beryl Heights location.
      1318 Agate St, Redondo Beach, CA 90277
      View Details
    • $3,399,000
      5,130 SF

      Redondo Beach Multifamily Investment

      Rare opportunity in desirable South Redondo Beach location.
      523 Avenue G, Redondo Beach, CA 90277
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Apartment Near Redondo Beach Pier

      Apartment with pool, spa, and recreation room near the beach.
      209 S Prospect Ave, Redondo Beach, CA 90277
      View Details
    • Contact for pricing
      779 SF

      Oceanfront Living at Casa Bahia

      Oceanfront condo with views, balcony, and community amenities.
      555 Esplanade, Redondo Beach, CA 90277
      View Details
    • Contact for pricing

      Redondo Beach Office Building

      Fully leased office building in Redondo Beach, California.
      1650 S Pacific Coast Hwy, Redondo Beach, CA 90277
      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
    • $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
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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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