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Listed by Mark Lima • Lima Real Estate Group
$ 5,700,000
Est. payment | /mo
4,949 SqFt
$ 5,700,000
Est. payment | /mo
4,949 SqFt
Key Details
Property Type Single Family Home
Sub Type Commercial/Residential
Listing Status Active
Purchase Type For Sale
Square Footage 4,949 sqft
Price per Sqft $1,151
MLS Listing ID OC-25232552
Year Built 1972
Lot Size 4,018 Sqft
Property Sub-Type Commercial/Residential
Source California Regional Multiple Listing Service (CRMLS)
Property Description
This is your opportunity to own a 6 unit trophy income property with a great unit mix, ocean views, and an unbeatable location in the heart of Hermosa Beach, steps to the pier and Pier Plaza, The Strand, and all of the shops and restaurants downtown Hermosa Beach has to offer! This primely located 6 unit building has an extremely favorable unit mix consisting of one 3 Bedroom/2 bathroom unit, one 2 bedroom/2 bathroom unit, two 2 bedroom/1 bathroom units, and two 1 bedroom/1 bathroom units. All units are in good condition, and come with great balconies where tenants can enjoy outdoor living, picture perfect ocean views, people watching, and the great beachside weather. In addition, there is a huge rooftop, complete with stair access, that comes with amazing unobstructed panoramic ocean views, which could perhaps be utilized as a great common area outdoor space for the tenants. (check with the City) There are also four 1-car garages, and one two-car garage on the property, and all of them are fully enclosed with automatic roll up doors making them perfect for parking or storage. The 4,949 square foot building sits on a large 4,018 square foot lot that is 40' x 100', and runs from Hermosa Avenue all the way to Palm Drive. With its unbeatable location, and great features, this building's apartments are always in very high demand, and rent at a premium. This building is great as it is, but it has a tremendous amount of upside in both rent increases in its current state, as well as with building improvements/value add projects. You can really maximize this building's cash flow, as well as its equity position and market value. Properties like these don't come around very often, so don't miss out. This is your chance to own a trophy investment property, with a ton of upside, a great unit mix, an unbeatable location, and spectacular ocean views!
Location
State CA
County Los Angeles
Area 148 - Hermosa Beach Sand
Interior
Heating Radiant
Laundry Inside
Exterior
Garage Spaces 6.0
Pool None
Community Features Sidewalks, Street Lights
Building
Lot Description Rectangular Lot, Walkstreet
Sewer Public Sewer
Others
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Marissa Buss & Danny Lampert
Lic# 01770909 | 01834114