502 N Elena Avenue 1-7

***Price Reduced $155,000***This 7-unit apartment community offers investors

desirable amenities and an exceptional location

within Redondo Beach in the South Bay. The property

features a diverse unit mix of three, two & onebedroom

units with functional layouts that consistently

attract long-term tenants. Residents benefit from onsite

laundry and individual garages. The residences

in the rear further distinguish themselves with select

townhouse units and large private patios, offering

a more spacious, modern living experience. This

combination of location, design, and amenities

ensures strong renter demand and positions the

property for substantial rent and income growth as

units are modernized and brought to market levels. • 6 of 7 units have been renovated to

different states that include: new plumbing,

electrical panels, kitchens, bathrooms, flooring,

and hardware.

• Demand Tailwinds: The severe monthly cost

differential between renting ($3,550 avg.)

and owning ($11,248 avg.) in Redondo Beach

underscores ongoing renter demand, especially

among workforce households priced out of

homeownership. • Proven Rent Growth: Historical rent growth

in Redondo Beach has been both strong and resilient, with continued increases forecast

through the end of the decade. • With affordability challenges driving sustained

renter demand, and historical trends pointing toward ongoing rent appreciation, Park

Promenade provides investors a compelling opportunity for both near-term value creation

and long-term growth. • 100% occupied. well-managed, & maintained

• Individual garages & select private patios • Excellent unit mix of 3, 2 & 1 bedroom units

• New electrical panels