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Ever Banuelos

ever.banuelos@gmail.com +1(323) 833-9824

$2,450,000

Est. payment - /mo

6 Beds

5 Baths

3,200 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,200 sqft

Price per Sqft $765

MLS Listing ID 26844081

Bedrooms 6

Lot Size 7,691 Sqft

Acres 0.1766

Property Sub-Type Multi-Family

Property Description

PRICE REDUCED BY $345,000! Current Income Justifies the Purchase Price - Future Development Potential Comes at a Significant Discount. This is an exceptional opportunity to acquire one of the most compelling value-add and development opportunities in Hermosa Beach. The property is now offered at an attractive $765 per square foot for the existing four income-producing units and just $318 per square foot of land, representing a land basis well below current market levels. Unlike many development opportunities where buyers pay a premium for future potential, this offering makes financial sense as a stand-alone income property while providing substantial upside through future redevelopment. Investors can acquire a stabilized four-unit asset at pricing supported by today's cash flow, while effectively securing a premier Hermosa Beach development site at a significant discount to replacement and land value. According to the City, the property may accommodate the future construction of two new single-family residences with an ADU behind each home (buyer to independently verify all development potential with the City of Hermosa Beach). This creates a rare opportunity to generate rental income while preserving the flexibility to develop immediately or capitalize on future appreciation. Whether an investor is seeking stable in-place income, a long-term land hold, or an immediate development project, the property offers multiple strategies to maximize returns. Adding to its appeal, the seller may consider seller financing, creating additional flexibility for qualified buyers. Opportunities to acquire premium Hermosa Beach land with existing income, below-market land pricing, and meaningful development upside are increasingly rare. This is a unique chance to purchase an asset that works both as a cash- flow investment today and as a deeply discounted future development opportunity.

Location

State CA

County Los Angeles

Area Hermosa Beach East

Zoning HBC3YY

Rooms

Other Rooms None

Interior

Heating Wall

Cooling None

Equipment Range/Oven, Refrigerator, Garbage Disposal

Exterior

Parking Features Uncovered

Building

Story 1

Level or Stories One

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap

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Ever Banuelos

Team Leader | License ID: 01945384

+1(323) 833-9824 | ever.banuelos@gmail.com

1224 Corona St Hermosa Beach, CA 90254

Ever Banuelos

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby Locations

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