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29120681
29120680

1702 Hermosa Avenue, Hermosa Beach, CA 90254

JM
CA CA 01227852
Kidder Mathews
Listed by Kidder Mathews
$8,995,000
149 days on market
Updated 23 days ago

10 Pride of Ownership Units with Ocean Views

Details
APN 4183010011
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 5,520
Units 10
Cap Rate 2.71%
NOI $234,686
Occupancy 100%
Price per SqFt $1,629
Year Built 1953
Year Renovated 2022/2023
Buildings 1
Stories 3
Acreage 0.113
Zoning Public Rec
Ground Lease No
Ownership 100% fee simple interest

Multifamily | 10 Units | $899,500/unit

Marketing description

***Price Reduced $1,000,000***1702 Hermosa Avenue is an exceptional ocean view 10-unit property located in highly sought-after Hermosa Beach. It is rare to encounter an opportunity to acquire a to the studs fully remodeled property spanning 5,520 rentable square feet that includes fourteen bedrooms and ten bathrooms with ocean Views, under $10M on this prime stretch of Hermosa Avenue. Fully renovated from top to bottom, this property highlights meticulous diligence, including all visible elements, plumbing, electrical, landscaping, hardscaping, modern architecture, and more. Perched on an elevated parcel with sweeping ocean views, breezes, this gem provides easy walkable access to Pier Avenue with its vibrant restaurants, shops, bars, and cafes. 1702 Hermosa Ave defines Southern California coastal living and investing at its finest. Its desirable breathtaking ocean views from six of the ten units provide the epitome of the Southern California beach lifestyle. A high walking score of 95 from WalkScore.com, this remarkable income property offers excellent investment potential. 1702 Hermosa Avenue is a one-of-a-kind property that rarely appears in the market in its location. Its versatility, stunning views, and unmatched location make it an irresistible opportunity for discerning buyers, investors, or those seeking a turnkey and fully renovated asset with ocean views. Rare Oceanview Income Property on Hermosa Avenue. 6 Two Bedroom & 4 One Bedroom Units 7 Garages totaling 9 parking spaces Complete Rehab & Renovation of Exterior & Interior New: Roof, Plumbing, Sub-Panels, Wa

Investment highlights

  • $1,000,000 Price Reduction

  • Rare Oceanview Income Property on Hermosa Avenue

  • 6 Two Bedroom & 4 One Bedroom Units bedroom units

  • 7 Garages totaling 9 parking spaces

  • Iconic Hermosa Avenue Location

  • Complete Rehab & Renovation of Exterior & Interior in 2025

  • New: Roof, Plumbing, Sub-Panels, Water Heaters, Kitchens, Bathrooms, Appliances Wiring, Windows & More

  • Current Monthly Income of $33k per Month

  • Ocean views and minutes to sand, surf, and Pier Avenue’s renowned dining and retail.

  • Priced well below Hermosa Beach condominium & single-family homes located in a high-barrierto-entry market with exceptional tenant demand and limited multifamily inventory.

  • This is not just real estate; it is a legacy opportunity to acquire luxurious apartments in L.A.'s most iconic coastal neighborhood.

  • Minutes from the ocean and within walking distance to high-end shopping, dining, hotels, entertainment, outdoor recreation, and attractions.

  • Nearby affluent communities include Redondo Beach, Manhattan Beach, and Palos Verdes among other beach communities.

  • Centrally located, the property offers tenants excellent regional access. It has been a preferred resort destination for more than a century.

  • The Hermosa Beach Pier is at the end of Pier Avenue, which is one of the beach community's main shopping, dining, and entertainment areas

  • CCTV & controlled electric access

  • Excellent tenant profile & well managed

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Listing Contacts

JM
CA CA 01227852
Kidder Mathews
Listed by Kidder Mathews

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$234,686.00
$19,557.17/mo

Valuation Metrics

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DSCR
2.61%
Cap Rate
2.61%
ROI

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Additional Information

Name
Jonathan Mitchell
License
CA 01227852
Brokerage
Kidder Mathews
Title
Senior Vice President
Brokerage Address
5 Park Plaza
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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