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1702 Hermosa Avenue, Hermosa Beach, CA

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1702 Hermosa Avenue

Hermosa Beach, CA 90254-3447 - Hermosa Beach MF Submarket

Property Type:Multi-Family Number of Units:10 Status:Existing Year Built:1953
Stories:2 Building Size:5,519 SF Land Area:.11 AC (4,879 SF)
For Sale Price:$5,850,000 Price/Unit:$585,000.00 Cap Rate:2.44 % GRM:-

Parking:.9 Parking Spaces / 1,000 SF

Property Description: Multi Family - 10 Units

Sale Notes:
Coldwell Banker Commercial Advisors is proud to present this 5,519-square foot ten unit building located at 1702 Hermosa Avenue in Hermosa Beach, California. Situated on a lot totaling 4,976-square feet located less than 600 feet from the Pacific Ocean, this offering consists of ten units: six one-bedroom/ one-bathroom units and four one-bedroom/ one-bathroom plus den units. Every unit has access to common area laundry and all units are separately metered for gas and electricity.

The 1702 Hermosa Avenue apartment provides long-term investors with the opportunity to own an A Class Asset on a valuable piece of land in a prime Hermosa Beach location. Additionally, a buyer may consider increasing yields through enhancing the current building. 1702 Hermosa Avenue provides an investor with the once in a life-time opportunity to purchase a highly attractive property, with strong income, in an absolutely irreplaceable location.

The subject property is located fifteen miles south of Los Angeles and five miles south of LAX in secluded and idyllic Hermosa Beach. Just minutes away from Hermosa Beach Pier, nestled next to the beautiful coves of Palos Verdes Peninsula and Manhattan Beach, this property is just a stone' s throw away from the water. Apart from the smog-free views of the Pacific Ocean and the lush and dramatic cliffs of the Palos Verdes Peninsula, the subject property is located in a true A class location. In close proximity is a cluster of boutique clothing and gift shops, restaurants, cafes, and most importantly, the beach.

Set in a prime Hermosa Beach location within walking distance to all of the boutique retail, entertainment and restaurants of Hermosa and Pier Avenue - including Umami Burger, Hennessey' s Tavern, Mediterraneo, Fritto Misto, Becker Surfboards, and Rok Sushi Kitchen - these residences allow for easy access to otherwise difficult secluded beach and recreational destinations such as The Strand, Hermosa' s exclusive sandy beaches, Noble Park and the Hermosa Beach Pier.

Coldwell Banker Commercial Advisors
GianLuca Jacoli

Jonathan Nikfarjam

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