Active

1731 Pacific Coast Highway

Hermosa Beach CA, 90254

$11,500,000


$709.39 per sqft

Active

40 Beds

20 Baths

16,211 sqft

Residential

Built in 1963

Listed by Gianluca Jacoli with Shield CRE, Inc. 310-593-9869

Price reduced by $450,000! This trophy asset features all 2-bedroom/1-bathroom units situated in an A+ Beach City location. The offering includes ocean-facing units, 40 parking spaces and the building is equipped with solar panels. Located in prime Hermosa Beach, the property is just two blocks from Pier Avenue. With no local rent control (AB 1482 only), there's potential for a 30% rental upside. Currently yielding a 3.71% cap rate, the pro-forma cap rate stands at 5.25%, making this an outstanding investment opportunity. Seller will consider SELLER CARRY FINANCING for 3 to 5 years. Rate and terms are negotiable.

24364047

MLS ID

March 1, 2024

Listed

May 25, 2024

Updated

Map

1731 Pacific Coast Highway
Hermosa Beach CA, 90254

Interior Features

Total Stories

3


Bedrooms

40


Total Bathrooms

20


Laundry Description

Common Area, Laundry Room


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.43 Acres

Other Property Details

Area Name

149 - Hermosa Bch Valley


Days on Market

81


Garage

No


Parking

Covered


Parking Total

40


View

No


County

Los Angeles


Pool

No


Zoning

HBR3YY


Buyer Agency Compensation

1.5%

Listing History

Date

Event

Price

5/22/2024

Price Change

$11,500,000

-4%

Listing Contact: 310-593-9869 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 5/25/2024 at 2:27 AM UTC

 

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