1702 Hermosa Avenue, Hermosa Beach, CA 90254

$5,695,000 Approx. USD 14 beds, 10 baths
5,519 sqft

Agent Remarks

Price reduced by over $150K. Tremendous rental upside and pro-forma cap rate at just under 4%. This is a rare opportunity to purchase (6) 1-bedroom/1-bathroom units and (4) 2-bedroom/1-bathroom units on Hermosa Avenue. This trophy asset is located north of the pier near Manhattan beach and is less than 600-ft from the Pacific Ocean. Half of these units have ocean views and over half the units have either an ocean view, balcony, or some sort of patio. Walking distance to Hermosa Beach Pier and all the attractions of Pier Avenue. There are 9 garage parking spots in the rear with alley access. Unit 10 has a 10X10 rooftop deck with panoramic views. Units are massively under rented and are poised to be repositioned. The property is directly across the street from the 17th Street walk-street which opens up 1702 Hermosa Avenue to beautiful ocean views.

Listing Details

Property type: (Multi-Family)
Status: Backup Offer
MLS# 16-149436
List price is $5,695,000 Reduced by $155,000 on 9/6/2016
Beds: 14
Baths: 10
Built in 1953
5,519 sqft
3 Stories stories
County: Los Angeles
Zoning: HBR3YY
Parking type: Garage
Interior features: Other
Heating description: Other
MLS area: Hermosa Beach Sand (148)

Last Updated: 10/13/2016

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This listing belongs to the Hermosa Beach Sand (148) MLS area

The listing is zoned HBR3YY.
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Lat/Long: 33.866073, -118.400756.
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Broker: Courtesy of CBC Advisors
Listing Agent: Jonathan Nikfarjam
Co Listing Agent: Gianluca Jacoli

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The median age of the population is , while the median age of dwellings is .
Out of households, are families.

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