20 22nd ST, Hermosa Beach, CA 90254 – SB24252047

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$7,400,000

Est. payment - /mo

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3,297 Sqft Lot

New

20 22nd ST Hermosa Beach, CA 90254

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/21/2024 01:18 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB24252047

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1959

Lot Size 3,297 Sqft

Property Description

Rarely does one of the crown jewels of Hermosa Beach multifamily become available with pro forma of over $360,000 in annual gross income and $247,752 in pro forma net income (3.35% cap rate). Just one home off the Hermosa Beach Strand, this high-end luxury 5-unit trophy asset consists of: (1) 2-Bed/2-Bath unit with an OCEAN VIEW, (1) 2-Bed/1-Bath unit that has an amazing patio and OCEAN VIEW as well as (3) 1-Bed/1-Bath units. The building features 7 parking spots, 4 of which are garage parking. This high-end luxury building offers a turnkey investment opportunity in one of the most exclusive neighborhoods within the South Bay. Currently, the 2-bed/1-bath unit and one 1-bed/1-bath units are being left vacant for the next owner. Actual financials include pro forma for each vacant unit.

Location

State CA

County Los Angeles

Area 148 - Hermosa Bch Sand

Zoning HBC1*

Interior

Interior Features Multiple Staircases

Heating Central

Cooling Central Air

Fireplace No

Laundry Common Area, Electric Dryer Hookup, Gas Dryer Hookup, Inside

Exterior

Parking Features Attached Carport, Storage

Garage Spaces 4.0

Carport Spaces 3

Garage Description 4.0

Pool None

Community Features Sidewalks

Utilities Available Sewer Connected

Waterfront Description Beach Access

View Y/N Yes

View Ocean

Total Parking Spaces 7

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Contemporary

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled,Turnkey

Others

Senior Community No

Tax ID 4182004008

Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Contract

Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Contract

Special Listing Condition Standard

Listed by William Joseph • Joseph Group • 310-415-4655