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    718 Hermosa Avenue

    Hermosa Beach, CA 90254
    • $2,399,000
    • STATUS: Active
    • ON SITE: 41 days
    • ID#: SB21173271
    Price Reduced
    UPDATED: 70 min ago
    $2,399,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1912
    County:

    School Ratings & Info

    Description

    Attention investors, second home buyers, vacation property specialists, landbankers and developers! This Flex-Use Vintage California Beach Cottage presents many opportunities for the astute buyer. Ready for occupancy now, the property was just freshly painted inside and out, with new flooring, ceiling fans, lighting and landscaping. Its inviting, beachy character shines through! Classic charm like this simply cant be replicated in newer buildings, and theres a further value-add opportunity to maximize rents and value by upgrading the kitchens and bathrooms. As a duplex, this property provides many flexible and versatile use options. 1) Hold it as a legacy investment property to build generational wealth as the current owners have. 2) Live in one of the units and rent out the other for income - the rent will offset about $900k of your mortgage, making it a compelling effective net purchase of $1.6m. 3) Use it as a fun vacation home or vacation rental where the side-by-side units provide co-living for extended family/kids in their own private spaces. 4) Set your children up to live in a family-owned property while they attend college or start their professional life, then retain for investment or build your dream home. 5) Develop a beautiful new 4,400+ sf 3 story home with an ADU that would be worth approx. $5.5m in todays market. Positioned on a coveted west-facing 40 extra-wide lot, the building is currently configured as a 2 bedroom, 1 bath on the south side. On the north side theres a 1 bedroom, 1 bath in the front plus a studio and bath in the back. Each unit has some outdoor space to enjoy the glorious weather and sunshine. Its all about life by the beach here. This is a fun and active, car-optional location, ideal for beachgoers who love being in the mix and close to Pier Plazas restaurants and shops, The Strand, and summer beach concerts. Hermosas pristine wide sandy beach is just 8 doors away and is the favored training ground of pro beach volleyball players including Olympic Gold Medalists Alix Klineman and April Ross among many others. Its all about life by the beach here.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T14:29:29.19. 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 or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
    www.sellinglasouthbay.com/homes/120189485
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    718 Hermosa Avenue Hermosa Beach, CA 90254

    • Price: $2,399,000
    • Status: Active
    • Updated: 70 min ago
    • ID#: SB21173271
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    1912
    Built
    Neighborhood:
    148 - Hermosa Bch Sand
    County:
    Los Angeles
    Area:
    148 - Hermosa Bch Sand
    Property Description
    Attention investors, second home buyers, vacation property specialists, landbankers and developers! This Flex-Use Vintage California Beach Cottage presents many opportunities for the astute buyer. Ready for occupancy now, the property was just freshly painted inside and out, with new flooring, ceiling fans, lighting and landscaping. Its inviting, beachy character shines through! Classic charm like this simply cant be replicated in newer buildings, and theres a further value-add opportunity to maximize rents and value by upgrading the kitchens and bathrooms. As a duplex, this property provides many flexible and versatile use options. 1) Hold it as a legacy investment property to build generational wealth as the current owners have. 2) Live in one of the units and rent out the other for income - the rent will offset about $900k of your mortgage, making it a compelling effective net purchase of $1.6m. 3) Use it as a fun vacation home or vacation rental where the side-by-side units provide co-living for extended family/kids in their own private spaces. 4) Set your children up to live in a family-owned property while they attend college or start their professional life, then retain for investment or build your dream home. 5) Develop a beautiful new 4,400+ sf 3 story home with an ADU that would be worth approx. $5.5m in todays market. Positioned on a coveted west-facing 40 extra-wide lot, the building is currently configured as a 2 bedroom, 1 bath on the south side. On the north side theres a 1 bedroom, 1 bath in the front plus a studio and bath in the back. Each unit has some outdoor space to enjoy the glorious weather and sunshine. Its all about life by the beach here. This is a fun and active, car-optional location, ideal for beachgoers who love being in the mix and close to Pier Plazas restaurants and shops, The Strand, and summer beach concerts. Hermosas pristine wide sandy beach is just 8 doors away and is the favored training ground of pro beach volleyball players including Olympic Gold Medalists Alix Klineman and April Ross among many others. Its all about life by the beach here.
    Exterior Features

    Architectural Style BungalowCottage Fencing Wood Lot Features Near Public TransitRectangular LotStreet LevelValue In Land Number Of Separate Electric Meters 2 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes Roof Shingle

    Interior Features

    Appliances Gas RangeRefrigerator Common Walls 1 Common Wall Fireplace Features None Fireplace YN No Flooring CarpetLaminateTileWood Interior Features Ceiling Fan(S)

    Property Features

    Additional Parcels YN No Common Interest None Community Features CurbsStreet LightsSidewalksUrban Current Financing None Disclosures Listing Broker Advantage Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 91200 Gross Scheduled Income 91200 Insurance Expense 0 Land Lease YN No Laundry Features Inside Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventionalTrust Conveyance Net Operating Income 0 New Construction YN No New Taxes Expense 0 Number Of Separate Gas Meters 2 Number Of Separate Water Meters 1 Operating Expense 0 Property Sub Type Duplex Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Tenant Pays Cable TvElectricityGas Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning Hbr3yy

    Listing provided courtesy of Karynne Thim of Pacifica Properties Group, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-18T14:29:29.19. 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 or Wendy Rich-Soto and Associates | Keller Williams Realty, South Bay. Licensed in the State of California, USA.
     
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    Torrance CA, 90505