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$ 6,975,000
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20 22nd Street Hermosa Beach, CA 90254
6 Beds
5 Baths
3,296 Sqft Lot
UPDATED:
01/11/2025 08:41 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB24252047
Bedrooms 6
HOA Y/N No
Lot Size 3,296 Sqft
Property Description
Rarely does one of the crown jewels of Hermosa Beach multifamily become available with $355,020 in pro forma annual gross income and $246,263 in pro forma net income (3.53% cap rate). Just one home off the Hermosa Beach Strand, this high-end luxury 5-unit trophy asset consists of: (1) 2-Bed/2-Bath unit with an OCEAN VIEW, (1) 2-Bed/1-Bath unit that has an amazing patio and OCEAN VIEW as well as (3) 1-Bed/1-Bath units. The building features 7 parking spots, 4 of which are garage parking. This high-end luxury building offers a turnkey investment opportunity in one of the most exclusive neighborhoods within the South Bay. Currently, the 2-bed/1-bath unit and one 1-bed/1-bath units are being left vacant for the next owner. Current actual income includes pro forma for units D and E.
Rarely does one of the crown jewels of Hermosa Beach multifamily become available with $355,020 in pro forma annual gross income and $246,263 in pro forma net income (3.53% cap rate). Just one home off the Hermosa Beach Strand, this high-end luxury 5-unit trophy asset consists of: (1) 2-Bed/2-Bath unit with an OCEAN VIEW, (1) 2-Bed/1-Bath unit that has an amazing patio and OCEAN VIEW as well as (3) 1-Bed/1-Bath units. The building features 7 parking spots, 4 of which are garage parking. This high-end luxury building offers a turnkey investment opportunity in one of the most exclusive neighborhoods within the South Bay. Currently, the 2-bed/1-bath unit and one 1-bed/1-bath units are being left vacant for the next owner. Current actual income includes pro forma for units D and E.
Rarely does one of the crown jewels of Hermosa Beach multifamily become available with $355,020 in pro forma annual gross income and $246,263 in pro forma net income (3.53% cap rate). Just one home off the Hermosa Beach Strand, this high-end luxury 5-unit trophy asset consists of: (1) 2-Bed/2-Bath unit with an OCEAN VIEW, (1) 2-Bed/1-Bath unit that has an amazing patio and OCEAN VIEW as well as (3) 1-Bed/1-Bath units. The building features 7 parking spots, 4 of which are garage parking. This high-end luxury building offers a turnkey investment opportunity in one of the most exclusive neighborhoods within the South Bay. Currently, the 2-bed/1-bath unit and one 1-bed/1-bath units are being left vacant for the next owner. Current actual income includes pro forma for units D and E.
Location
State CA
County Los Angeles
Area Hermosa Beach (90254)
Zoning Public Rec
Interior
Cooling Central Forced Air
Building
Lot Description Sidewalks
Story 2
Lot Size Range 1-3999 SF
Level or Stories 2 Story
Others
Monthly Total Fees $301
Acceptable Financing Cash, Conventional, Land Contract
Space Rent $6,000
Listing Terms Cash, Conventional, Land Contract
Listed by William Joseph • Joseph Group