2124 Hermosa Avenue, Hermosa Beach, CA 90254
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- MLS#: SB25013043 ( Apartment )
- Street Address: 2124 Hermosa Avenue
- Viewed: 1
- Price: $6,000,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1972
- Bldg sqft: 0
- Days On Market: 16
- Additional Information
- County: LOS ANGELES
- City: Hermosa Beach
- Zipcode: 90254
- Provided by: Strand Hill Properties
- Contact: Shawn Shawn
- DMCA Notice
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DescriptionIntroducing a rare opportunity to own a legacy six unit income property in the heart of North Hermosa Beach, one of Southern California's most coveted coastal neighborhoods. The location is hard to beat: just three doors from The Strand and steps from iconic local favorites like Marthas, The Bottle Inn, and The Green Store, with both the Manhattan Beach and Hermosa Beach Piers within easy reach. Offering an unbeatable combination of premier location, breathtaking ocean views, and exceptional investment potential, this irreplaceable property is a standout in every way. With a favorable unit mix of (2) 3 bedroom, 2 bath units and (4) 1 bedroom, 1 bath units, this substantial 5,765 sq. ft. building sits on an oversized 4,025 sq. ft. lot spanning from Hermosa Avenue to a high point on Palm Drive. The lower four units are all 1 bedrooms, while the upper two 3 bedroom units crown the property, offering awe inspiring, panoramic views of the Santa Monica Bay from Malibu to Palos Verdes and Catalina Island. Perched on the first rise of the hill from the sand, this building towers over its neighbors, standing as an irreplaceable legal nonconforming structure with unmatched ocean, sand, and whitewater views. An appx. 1,200 sq.ft. ocean view community deck and 9 car garage parking are standout features, while private storage and an on site laundry room add convenience for tenants. Located in a high demand rental market, the property offers substantial upside for investors, with pro forma net income of $295,072 (4.9% cap rate). A 4,400 sq.ft. home on Hermosa Avenue recently sold for $11M, further underscoring the high demand for this location and the uniqueness of this opportunity. Reach out now to submit your offer on this Hermosa Beach multifamily gem.
Property Location and Similar Properties
Features
Association Fee
- 0.00
Building Area Total
- 5765.00
Commoninterest
- Community Apartment
Common Walls
- No Common Walls
Country
- US
Direction Faces
- West
Electric Expense
- 504.00
Entry Location
- South side
Garage Spaces
- 9.00
Insurance Expense
- 8004.00
Laundry Features
- Individual Room
Laundry Income
- 1500.00
Lot Features
- Rectangular Lot
Netoperatingincome
- 149000.00
Newtaxesexpense
- 75000.00
Parcel Number
- 4182009003
Pool Features
- None
Postalcodeplus4
- 2857
Professionalmanagementexpense
- 6000.00
Property Type
- Apartment
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 430492548:CRM
Taxblock
- 31
Tenant Pays
- Electricity
- Gas
Totalactualrent
- 20675.00
Totalexpenses
- 99100.00
Trash Expense
- 2400.00
View
- Catalina
- Coastline
- Ocean
- Panoramic
- Pier
- Water
- White Water
Virtual Tour Url
- https://2124HermosaAve.com/idx
Water Sewer Expense
- 3600.00
Water Source
- Public
Year Built
- 1972
Year Built Source
- Public Records
Zoning
- HBR3YY