
Redondo Beach, California 90277
This property presents a High-Potential Investment Opportunity with a List Price of $1,895,000—positioned well below the $1,945,361 Fair Market Value by 2%. This valuation gap offers $50,361 in Instant Equity for buyers. With a Condition Rating of 6, the 1949 structure serves as a prime canvas for redevelopment on a 6,010-square-foot lot. Located in the Redondo Unified School District near top-rated schools, this is an ideal acquisition for Real Estate Developers or Owner-Occupants seeking a custom coastal build.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 647 S Irena Avenue Subject | $1,895,000* List Price | 3 | 1 | 1,022 | $1,903 | - |
A 607 Sapphire Street Sold | $1,800,000 | 2 | 1 | 968 | $1,860 | 0.1 mi |
B 422 S Juanita Sold | $1,775,000 | 2 | 1 | 820 | $2,165 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1949 with no significant renovations mentioned, this 75-year-old property is marketed primarily for its land value and redevelopment potential. The exterior shows significant wear, the backyard is unimproved, and the presence of a window AC unit indicates a lack of modern HVAC systems.
Elementary School: Alta Vista Elementary School (9/10). High School: West High School (9/10).
The generous 6,010-square-foot lot offers a rare 'blank canvas' opportunity in South Redondo Beach, with a clear precedent for high-value new construction on the same block.
Located on a unique, curved, tree-lined street with limited through-traffic, the property provides a sense of privacy and charm while remaining close to the beach and Riviera Village.
With only 1,022 square feet and a single bathroom, the current 1949 structure is undersized for modern family needs and likely requires a total rebuild or major expansion.
At a list price of $1,895,000, the acquisition cost is high for a project that essentially functions as a lot sale, requiring significant additional capital for development.
Some streets simply feel different—and South Irena Avenue is one of them. Set on a generous 6,010-square-foot lot along one of South Redondo Beach’s most distinctive tree-lined streets, this 3-bedroom, 1-bath home offers 1,022 square feet today and an exceptional opportunity for tomorrow. Unlike the typical grid-pattern neighborhood, Irena gently curves through a collection of beautifully developed homes, giving the 600 block a sense of character, consistency, and established charm that is increasingly difficult to find. Because the street isn’t a convenient cut-through to anywhere else, traffic is refreshingly limited—mostly to the neighbors lucky enough to call it home. The existing residence has classic curb appeal, with a white picket fence, mature shade tree, and plenty of potential to become a charming coastal cottage. Give it a thoughtful refresh and enjoy it while future plans take shape—or start imagining what could come next. Because the real headline here is the lot. For a developer or homeowner dreaming of creating something entirely their own, this is the canvas. Build a modern coastal showpiece, a timeless custom residence, or the South Redondo dream home currently living rent-free on your inspiration board. With much of the surrounding block already thoughtfully developed, the setting—and the precedent—are firmly in place. The location makes the opportunity even more compelling. You’re just a short distance from the beach, Riviera Village’s restaurants, shops, and neighborhood favorites, along with parks, schools, and everything that makes this pocket of the South Bay so beloved. For perspective, 615 S. Irena Avenue, located on a similarly sized lot, sold for $2,040,000 before being replaced with a newly built home. Offered at $1,895,000, 647 S. Irena presents a rare chance to secure your place on one of South Redondo’s truly special blocks. Keep the charming cottage, give it a glow-up, or bring in the plans and start fresh. Opportunities like this don’t come around often—and streets like this are exactly why.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.7 mi
Grades K-5 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,022 | 1,576 |
| Lot Size | 6,010 | 5,929 |
| Price | $1.90M | $1.80M |
| Price per sq ft | $1.9K | $1.0K |
| Built year | 1949 | 1963 |
| HOA | $0 | $0 |
| Days on market | 6 | 45 |
Jul 16, 2026
$1,895,000
Initial Listing
May 24, 1996
$289,000
Public Record