Owner-User or Investment Opportunity

A multi-tenant medical office (dental) building located in the heart of Riviera Village, the dining, retail, art, and entertainment epicenter of Redondo Beach with over 300 boutiques, restaurants, galleries, cafés, and salons located within an idyllic six block radius.

$5.735M

ASKING PRICE

$806

Price/SF



PROPERTY HIGHLIGHTS

ADDRESS 1706 S Elena Ave, Redondo Beach, CA 90277
ASKING PRICE $5,735,000
OCCUPANCY 100%
NUMBER OF SUITES Four (4)
BUILDING TYPE Medical (Dental)
POTENTIAL OWNER USER AREA ± 1,785 SF
Suite A lease expired 12/31/23 and is currently month to month. An owner-user may potentially take over this space at close of escrow. Contact listing broker for additional detail.
TOTAL BUILDING AREA ± 7,118 SF*
TOTAL LAND AREA ± 6,907 SF*
RENTAL INCOME (IN PLACE) $290,760
NOI (IN PLACE) $177,382
LEASE TYPES Full Service Gross
APN 7511-013-017 & 018
ZONING RBC-3-PD(RIV)
OWNERSHIP Fee Simple (Land & Building)

*Building SF & Land SF are based on Public Record - Buyer to verify



RARE RIVIERA VILLAGE OWNER-USER OR INVESTOR OPPORTUNITY

  • 100% occupied by four dental tenants
  • An owner-user may potentially take over Suite A (lease currently month-to-month) at close of escrow
  • Located in the heart of Riviera Village, the dining, retail, art, and entertainment epicenter of Redondo Beach
  • Offered for sale for the first time in over 40 years

STABLE IN PLACE INCOME | UPSIDE | HIGH BARRIER OF ENTRY MARKET WITH SCARCE SUPPLY

  • Occupied by four tenured, quality dental practices providing stable in place income
  • There is an extremely scarce supply of medical office space in Redondo Beach
  • Features “bite size square footage” medical suites which lend themselves to premium $/SF/Month rental rates

STRONG MEDICAL (DENTAL) REAL ESTATE FUNDAMENTALS

  • Six (6) private parking stalls in the rear of the property for doctor parking
  • Upgraded/attractive façade with prominent building signage for each tenant
  • Well maintained asset with on-site owner/manager
  • Convenient access to “Riviera Triangle Parking Lot”

HIGHLY AFFLUENT SOUTH BAY TRADE AREA DEMOGRAPHICS

  • Dense and highly affluent South Bay Trade area, equating to an abundant potential tenant and customer base
  • High average household incomes and housing values yeilding heavy spending on healthcare services (such as dental)
  • Over 1.5X more than the national avg index score on avg consumer expenditure on dental services within 1-mile radius