1836 The Strand

    Hermosa Beach, CA 90254
    • $10,999,000
    • STATUS: Active
    • ON SITE: 70 days
    • ID#: 19422854
    UPDATED: 62 min ago
    $10,999,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,908
      SQFT
    • $2,814
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1928
    County:

    School Ratings & Info

    Description

    The entire asset has been gutted and redone front the studs out with permits, as necessary. The recent $650,000 capital expenditure includes NEW: roofs, plumbing, windows, decking, railings, waterproofing (in the walls), as well as all new subpanels and ALL wiring throughout! The interior "fit-and-finish" is beach-chic, with nothing left to be desired. All units boast hardwood, marble, subway tile, recessed lighting etc. The building's location on its parcel, is also superior to virtually everything on The Strand. Setback requirements, at its date of construction were virtually non-existent - the front balconies almost hang right over the bike path and sand! The view is actually greater than 180 degrees! Making a perfect view, better. Lastly, the offering affords an investor the opportunity to assume excellent, BELOW-MARKET, in-place financing. The current loan has a principal balance of $4,900,000 at a rock-bottom monthly payment of 4.25% Interest-Only - until August 2020.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-03-23T20:32:58.5. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.sellinglasouthbay.com/homes/90807147

    1836 The Strand Hermosa Beach, CA 90254

    • Price: $10,999,000
    • Status: Active
    • Updated: 62 min ago
    • ID#: 19422854
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    3,908
    SQFT
    $2,814
    $/SQFT
    1928
    Built
    Neighborhood:
    148 - Hermosa Bch Sand
    County:
    Los Angeles
    Area:
    148 - Hermosa Bch Sand
    Property Description
    The entire asset has been gutted and redone front the studs out with permits, as necessary. The recent $650,000 capital expenditure includes NEW: roofs, plumbing, windows, decking, railings, waterproofing (in the walls), as well as all new subpanels and ALL wiring throughout! The interior "fit-and-finish" is beach-chic, with nothing left to be desired. All units boast hardwood, marble, subway tile, recessed lighting etc. The building's location on its parcel, is also superior to virtually everything on The Strand. Setback requirements, at its date of construction were virtually non-existent - the front balconies almost hang right over the bike path and sand! The view is actually greater than 180 degrees! Making a perfect view, better. Lastly, the offering affords an investor the opportunity to assume excellent, BELOW-MARKET, in-place financing. The current loan has a principal balance of $4,900,000 at a rock-bottom monthly payment of 4.25% Interest-Only - until August 2020.
    Exterior Features

    Construction Materials Stucco Lot Features Sprinklers None Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage Parking YN Yes Roof Composition View Ocean View YN Yes

    Interior Features

    Appliances Tankless Water HeaterBuilt In Range Appliances YN Yes Cooling None Cooling YN No Fireplace Features Living Room Fireplace YN Yes Flooring Wood Room Type Living Room Window Features Double Pane Windows

    Property Features

    Garage Income 9000.00 Gross Multiplier 30.67 Gross Operating Income 358620.00 Insurance Expense 2044.00 Laundry Income 1200.00 Net Operating Income 224596.00 Operating Expense 15712.00 Special Listing Conditions Standard Total Actual Rent 317074.00 Total Expenses 133465.00 Vacancy Allowance Rate 3.00 Zoning Hbr2b*

    Listing provided courtesy of Brice Head of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-03-23T20:32:58.5. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Keller Williams Realty, LA Harbor
    28901 S. Western Avenue #139
    Rancho Palos Verdes CA, 90731