124 S Guadalupe Ave, Redondo Beach

SOLD: Landmark (represented the sellers)

This landmark property was marketed for sale for the first time in nearly a Century.  The property was sold with the intent to restore the front house and develop the newly create flag lot with entitlements for 3 units.

This is a rare opportunity to purchase a 12,030’ ocean view lot in South Redondo Beach.  The property is on an elevated lot with ocean views from Palos Verdes to Malibu and is just 5 blocks from the beach.  The main house is a stately two story 1908 Colonial Revival 4 bedroom/ 2 bath home on the front of the property, and includes a 1918 two story 4 bedroom 2 bath rental property located at the rear of the lot.  The front house sits 18 feet above street level at an elevation of 113’, with ocean views from both downstairs and upstairs rooms.  Currently situated as a two unit rental, the house can be returned to grandeur as most of the original appointments remain including wavy glass windows, original doors and built-in china cabinets and bookcases.  This is a perfect opportunity for the owner occupant to restore this historic ocean view home, enjoy a large yard, and collect income from the rental unit set back from the rest of the living space.  The property has the potential to qualify for a Mills Act property tax incentive and may be subdivided.**  The city of Redondo Beach offers a small town feel with top rated schools, walkable neighborhoods, and the beach, parks, shopping and dining all within a short stroll from 124 S Guadalupe.

Develop  The property is currently zoned R-3 Residential.**  The lot dimensions are approximately 60’ by 200’ at an elevation of 118 feet above sea level.  Because the lot sits high above the street level, with one story properties to the south, the ability to maximize ocean views provides a developer a chance to build uniquely situated homes that each capture views of the Pacific Ocean from Palos Verdes to Malibu.

Invest South Redondo Beach is experiencing spillover demand as prices in Hermosa and Manhattan Beach continue to reach record levels.  Many buyers looking for a piece of the beach are heading south to Redondo Beach.  Recent sales of newly constructed ocean view homes in the area are included below.