Record Price for a Redondo Beach Fourplex: $719,875 Per Unit on Camino de la Costa

A four-unit building in Redondo Beach just changed hands at a record price. 1906 Camino de la Costa sold for about $2.9 million in cash, or $719,875 per unit — the most ever paid for a fourplex in Redondo Beach east of the Esplanade, according to Multi-Housing News, which reported the deal this week.

The 3,048-square-foot building closed at roughly $945 per rentable square foot. The all-cash buyer was a sourced international investor. The deal was arranged by Coldwell Banker Commercial Advisors' El Segundo office — Managing Principal Jonathan Nikfarjam and Sales Associate GianLuca Jacoli.

What stands out is the competition: the listing drew several full-price and above-asking offers in a competitive bidding process. "This is a great example of how the demand for well located, non-rent controlled, beach city real estate has been incredibly strong — and so strong that local investors are being forced to compete alongside foreign investors," Nikfarjam said in prepared remarks.

For South Bay investors, the signal is clear: well-located, non-rent-controlled small multifamily in the beach cities is trading like a trophy asset even with rates elevated. The per-unit record says as much about scarcity — there simply aren't many of these buildings — as it does about demand. For owner-occupiers hunting duplexes and fourplexes, competition isn't going away, and the practical move is to be pre-approved and ready to act fast.

Source: Multi-Housing News — https://www.multihousingnews.com/cbc-advisors-closes-record-sale-in-redondo-beach/

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