Property Detail

Description

This is your opportunity to own a 6 unit trophy income property with a great unit mix, ocean views, and an unbeatable location in the heart of Hermosa Beach, steps to the pier and Pier Plaza, The Strand, and all of the shops and restaurants downtown Hermosa Beach has to offer! This primely located 6 unit building has an extremely favorable unit mix consisting of one 3 Bedroom/2 bathroom unit, one 2 bedroom/2 bathroom unit, two 2 bedroom/1 bathroom units, and two 1 bedroom/1 bathroom units. All units are in good condition, and come with great balconies where tenants can enjoy outdoor living, picture perfect ocean views, people watching, and the great beachside weather. In addition, there is a huge rooftop, complete with stair access, that comes with amazing unobstructed panoramic ocean views, which could perhaps be utilized as a great common area outdoor space for the tenants. (check with the City) There are also four 1-car garages, and one two-car garage on the property, and all of them are fully enclosed with automatic roll up doors making them perfect for parking or storage. The 4,949 square foot building sits on a large 4,018 square foot lot that is 40' x 100', and runs from Hermosa Avenue all the way to Palm Drive. With its unbeatable location, and great features, this building's apartments are always in very high demand, and rent at a premium. This building is great as it is, but it has a tremendous amount of upside in both rent increases in its current state, as well as with building improvements/value add projects. You can really maximize this building's cash flow, as well as its equity position and market value. Properties like these don't come around very often, so don't miss out. This is your chance to own a trophy investment property, with a ton of upside, a great unit mix, an unbeatable location, and spectacular ocean views!