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635 8th Pl

Hermosa Beach, CA 90254
  • $3,220,000
  • STATUS: Closed
  • ON SITE: 118 Days
  • MLS #: 22-221151
Sold - 02/17/2023
$3,220,000
SOLD - 02/17/2023
  • 8
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,376
    SQFT
  • $736
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1948
County:

School Ratings & Info

Description

635-643 8th Pl is the rare opportunity to own a 6-unit multifamily asset on a large 7,520 sq ft lot west of PCH in Hermosa Beach. The property will be delivered with 2 vacant units. Factoring in $100,000 in renovation costs, the property will operate at a 4% cap rate, with a 5.5% cap rate at market. Tenants have the luxury of an onsite laundry room and garage parking. Individually metered for gas and electric, the landlord has low operating expenses. ADU potential in the garages and/or backyard (buyer/buyer's agent to verify). With a 87 WalkScore, tenants enjoy close proximity to the beach, Hermosa Beach Pier, PCH, recreation facilities, and the Greenbelt.

Sold by Robert Freedman BRE#01978847 of Domo Real Estate.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2023-03-28T23:42:53.923. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchdesertrealestate.com/homes/135117631
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635 8th Pl Hermosa Beach, CA 90254

  • Price: $3,295,000
  • Status: Closed
  • On Site: 118 Days
  • MLS #: 22-221151
8
Beds
0
Baths
0
½ Baths
0.17
Acres
4,376
SQFT
$736
$/SQFT
1948
Built
Neighborhood:
Hermosa Beach Valley
County:
Los Angeles
Area:
Hermosa Beach Valley
Property Description
635-643 8th Pl is the rare opportunity to own a 6-unit multifamily asset on a large 7,520 sq ft lot west of PCH in Hermosa Beach. The property will be delivered with 2 vacant units. Factoring in $100,000 in renovation costs, the property will operate at a 4% cap rate, with a 5.5% cap rate at market. Tenants have the luxury of an onsite laundry room and garage parking. Individually metered for gas and electric, the landlord has low operating expenses. ADU potential in the garages and/or backyard (buyer/buyer's agent to verify). With a 87 WalkScore, tenants enjoy close proximity to the beach, Hermosa Beach Pier, PCH, recreation facilities, and the Greenbelt.
Exterior Features

Lot Size Area 7528 Other Structures None Parking Garage Garage - 4+ CarGarage Is Attached Total Parking 0

Interior Features

Baths Total 6.00 Cooling None Equipment None Heating Wall Gas

Property Features

Assessed Total Value 237905 Gross Income 204880 Gross Operating Income 198764 Like Units1 1 Like Units2 1 Like Units3 1 Like Units4 1 Like Units5 1 Like Units6 1 Net Operating Income 136236.00 Number Of Buildings 2 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 62528 Type Of Units 1 And 2 Bed Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Hbr2yy

Listing provided courtesy of Daniel Shieh DRE#01978847 of Lyon Stahl Investment Real Estate, Inc.: 310-425-9838.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2023-03-28T23:42:53.923. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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The John Jay Group - Bennion Deville Homes
74996 Highway 111
Indian Wells CA, 92210