502 N Elena Avenue, Redondo Beach, CA 90277

• 6 beds |
• 4 baths

Property Description

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

Listing Status:

Active

Date Added:

January 2, 2026

Data Last Updated:

February 16, 2026 at 12:11PM

Listing Office:

Kidder Mathews of California, Inc : 949-557-5000

Listing Agent:

Jonathan Mitchell : 714-337-8405

MLS ID:

OC26003145

Interior

• Heating: Radiant

Exterior

• General: N/K
• Pool: N/K

Construction

• General: 2 Story

Location

• HOA Amenities: 0.0
• Originating MLS: California Regional MLS
• County: Los Angeles

Lot

• Zoning: Public Rec7503011029

Financial

• Source: California Regional MLS