563 2nd St - Multi-Family FOR SALE


Hermosa Beach, CA 90254
$1,795,000 USD
510-708-2662
563 2nd St, Hermosa Beach, CA for Sale
$1,795,000 USD
Multi-Family - FOR SALE
1/10
null | 2.73% Cap Rate

563 2nd St
Hermosa Beach, CA 90254


HIGHLIGHTS

  • Premier Hermosa Beach Location: Situated just a few blocks from The Strand & the sparkling Pacific Ocean.
  • Prime Investment Opportunity: This triplex property serves as an ideal asset with strong potential for owner-occupancy.
  • ADU Expansion Potential: Outstanding chance to develop Accessory Dwelling Units (ADUs) to boost rental income (Buyer to verify).
  • Favorable Rent Regulations: Exempt from Los Angeles City rent control, falling under AB 1482 for competitive annual rent adjustments.
  • Modern Unit Features: Includes a fully renovated studio unit, plus Unit C featuring its own private deck for added comfort and desirability.
  • Robust Income Stream & Growth Potential: Boasts a current cap rate of 2.73% and GRM of 22.23, with pro-forma projections reaching a 3.58% cap rate.

OVERVIEW

Discover this exceptional triplex property in the heart of Hermosa Beach, California, perfectly positioned just a few blocks from The Strand and the shimmering Pacific Ocean, embodying the essence of coastal luxury living. As a prime investment opportunity, this versatile asset offers strong potential for owner-occupancy, allowing you to reside in one unit while generating income from the others. With outstanding potential for Accessory Dwelling Units (ADUs), buyers can explore adding extra rentals to significantly boost revenue—though verification of feasibility is advised. Benefiting from favorable rent regulations, the property is exempt from Los Angeles City rent control and falls under AB 1482, enabling attractive annual rent increases to maximize returns. Its eligibility for standard residential financing makes it accessible to a broad spectrum of buyers, simplifying acquisition. Currently delivering robust income with a 2.73% cap rate and 22.23 GRM, it promises even greater upside through pro-forma projections of a 3.58% cap rate. The location's exceptional market appeal shines with proximity to King Harbor, Hermosa Beach Pier, Redondo Beach Pier, and vibrant Pier Avenue, providing endless beachside dining, shopping, and recreational options. Inside, enjoy modern amenities like a fully renovated studio unit and Unit C's private deck for enhanced comfort. Practical features include a spacious 2-car garage for secure parking and on-site laundry facilities that generate an additional $200 per month in passive income. This triplex combines immediate cash flow, growth potential, and an unbeatable seaside lifestyle—don't miss out on this Hermosa Beach gem.

FOR SALE DETAILS

PRICE

$1,795,000 USD

PRICE/SF

$1,568 USD /SF

# OF UNITS

3

PRICE/UNIT

$598,333

CAP RATE

2.73%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1918

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,477 SF

ZONING

HBR1YY

APN/PARCEL ID

4188-025-003

ASK ABOUT THIS PROPERTY

Gianluca JacoliShield Commercial Real EstateMore Info
510-708-2662

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Gianluca JacoliShield Commercial Real EstateMore Info
510-708-2662

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.