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Listed by William Hill Joseph • Joseph Group
$ 6,975,000
Est. payment /mo
Price Dropped by $425K
20 22nd Street Hermosa Beach, CA 90254
3,646 SqFt
UPDATED:
01/22/2025 12:16 AM
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,646 sqft
Price per Sqft $1,913
MLS Listing ID SB-24252047
Style Contemporary
Year Built 1959
Lot Size 3,296 Sqft
Property Description
Rarely does one of the crown jewels of Hermosa Beach multifamily become available with $357,348 in pro forma annual gross income and $248,498 in pro forma net income (3.56% 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. Current rent roll reflects $26,225 per month with pro forma income for Unit E.
Location
State CA
County Los Angeles
Zoning HBC1*
Interior
Interior Features 2 Staircases
Heating Central
Cooling Central Air
Laundry Common Area, Gas & Electric Dryer Hookup, Gas Dryer Hookup, Inside
Exterior
Parking Features Attached Carport, Built-In Storage
Garage Spaces 4.0
Pool None
Community Features Sidewalks
Utilities Available Sewer Connected
View Y/N Yes
View Ocean
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer