531 Esplanade 509, Redondo Beach, California 90277, Redondo Beach, 90277 - 2 bed, 3 bath
Loading property details...
531 Esplanade 509
Redondo Beach, California 90277
ACTIVE
CONDITION: FAIR
2Beds
3Baths
1,246Sq Ft
24,174Lot Size
Property Price
LIST PRICE$1,495,000
EST. MARKET VALUE
$1,559,967
4% BelowMARKET VALUE
SUMMARY
This Oceanfront Condominium represents a Strong Value Opportunity, listed at $1,495,000—positioned well below the $1,559,968 Fair Market Value by 4%. This valuation gap provides $64,968 in Instant Equity for the buyer. Featuring a Condition Rating of 4, the unit offers a remodeled kitchen with black granite countertops and panoramic ocean views. Located in the Redondo Unified School District, this property is an ideal acquisition for Owner-Occupants seeking a coastal lifestyle or Buy-and-Hold Investors targeting premium beachside rentals.
Estimated Market Value
$1,559,967+$64,967 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Redondo Beach.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 531 Esplanade 509 Subject | $1,495,000* List Price | 2 | 3 | 1,246 | $1,252 | - |
A 727 Esplanade 306 Sold | $1,822,500 | 2 | 2 | 1,419 | $1,284 | 0.4 mi |
B 535 Esplanade Active | $1,675,000 List Price | 2 | 3 | 1,223 | $1,370 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
The property was built in 1974 and while the description notes a remodeled kitchen and bathrooms, the visual evidence of granite tile countertops and specific cabinetry styles suggests the renovations are likely 15-25 years old. The unit is well-maintained and functional but aesthetically dated, fitting the criteria for minor updates needed to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Alta Vista Elementary School (9/10). High School: West High School (9/10).
- Unrivaled Panoramic Views
Positioned in one of the tallest buildings on the Esplanade, this unit offers rare, unobstructed ocean and sunset views from every room, including a private master deck.
- High-End Interior Upgrades
The property features a sophisticated remodel including a chef's kitchen with black granite countertops, Sub-Zero refrigeration, and elegant stone flooring throughout the main living areas.
CONSRISKS & DEFICIENCIES
- High Monthly HOA Dues
The monthly association fee of $840 is relatively high, which may impact the affordability and total carrying costs for potential investors or buyers.
- Compact Multi-Level Living
The 1,246 square feet of living space is distributed over two levels, which can make the individual rooms feel smaller and may be less desirable for those seeking a single-level layout.
About 531 Esplanade 509
Panoramic ocean view 2 levels north facing condominium with unobstructed ocean & sunset views from all rooms! Ocean Plaza is one of the most prestigious ocean front condominiums in south Redondo Beach. This unit offers a bright open floor plan with beautiful stone floors, steps, remodeled kitchen with black granite countertops, stainless steel sink, high end appliances including a sub-zero refrigerator, all electric easy clean 4 burner cooktop, stove & microwave. Open floor plan living area has its own bathroom with elegant stone floor entrance. Large ocean view master suite includes an ocean view deck, master bathroom with a double sinks, shower & a huge tub. 2nd ocean view bedroom also shares the ocean view master deck & has its own large remodeled bathroom. Ocean Plaza is a secure building which offers incredible ocean views with direct access to the beach & ocean. Walking distance to Redondo Beach Pier which includes a lively night life with many restaurants, retail shops, pubs & free summer concerts. The Ocean Plaza is one of the tallest condominiums on the Esplanade which offers incredible ocean views! The HOA offers a community kitchen, billiard room, large pool, hot tub, ocean front sun deck & picnic area, large Gym with free weights, treadmills, dry sauna, a huge panoramic ocean view roof top deck & 2 car secure covered parking & storage for this unit. Close to shopping, medical buildings, churches & freeways! Award-winning Redondo Beach schools.Buyer to verify all information.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1974
- Lot Size
- 24,174 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $840.0 / Month
Neighborhood Insights
Redondo Beach Unified Schools
Alta Vista Elementary School
Grades K-5 • 0.8 mi
9/10
Tulita Elementary School
Grades K-5 • 1.2 mi
9/10
Anza Elementary School
Grades K-5 • 1.4 mi
9/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 1.8 |
| Baths | 3.0 | 1.8 |
| Square foot | 1,246 | 1,070.5 |
| Lot Size | 24,174 | 48,375.1 |
| Price | $1.50M | $922.0K |
| Price per sq ft | $1.2K | $833 |
| Built year | 1974 | 1974 |
| HOA | $840.0 | $628 |
| Days on market | 34 | 54 |
Pricing History
Listed for Sale
Aug 6, 2026
$1,495,000
Initial Listing
Sold
Mar 12, 2009
$750,000
Public Record
Sold
Aug 23, 2007
$955,000
Public Record
Sold
Sep 28, 1999
$340,000
Public Record