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Andrea Pazmino-Pace

andreapazpace@gmail.com +1(626) 590-1289

$ 3,500,000

Est. payment | -/mo

8 Beds

6 Baths

4,002 SqFt

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$ 3,500,000

Est. payment | -/mo

Save

8 Beds

6 Baths

4,002 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,002 sqft

Price per Sqft $874

MLS Listing ID 26867229

Bedrooms 8

Construction Status Fixer

HOA Y/N No

Year Built 1971

Lot Size 2,901 Sqft

Property Description

We are pleased to present the exclusive offering of 114 Hermosa Ave, a premier coastal apartment investment located just steps from the beach in the highly sought-after Hermosa Beach submarket. This exceptional asset represents a rare opportunity to acquire a 4-unit apartment community in one of Southern California's most supply-constrained and desirable rental markets. Originally constructed in 1971, the property consists of approximately 4,002 rentable square feet situated on a 2,900 square foot lot. Residents enjoy stunning ocean views from the property, further enhancing its desirability and long-term rental appeal. Ideally situated within walking distance of the Hermosa Beach Pier, The Strand, award-winning restaurants, boutique retail, and major employment centers throughout the South Bay, the property offers an unmatched coastal lifestyle. Additional amenities include private balconies for every unit, eight covered parking spaces, private storage units for each resident, a community laundry facility conveniently located within the carport, and a shared rooftop deck offering panoramic ocean and coastline views. The property is currently operating at a 3.28% capitalization rate and a 20.01 GRM, presenting investors with meaningful upside through interior unit renovations and strategic upgrades that can drive rental growth and enhance overall property performance. Based on market rents, the asset offers the potential to achieve an estimated 4.25% market capitalization rate and 16.67 GRM, providing a compelling value-add opportunity while benefiting from the long-term stability of the Hermosa Beach rental market. With exceptionally high barriers to entry, limited new multifamily development, and consistently strong tenant demand, 114 Hermosa Ave offers investors the opportunity to acquire a trophy coastal asset with durable cash flow, significant income growth potential, and long-term appreciation in one of Los Angeles County's most coveted beachfront communities. The property's premier coastal location, breathtaking ocean views, exceptional resident amenities, and value-add potential position it as a truly outstanding investment opportunity in one of Southern California's most prestigious beach communities.

Location

State CA

County Los Angeles

Area 148 - Hermosa Bch Sand

Zoning HBR3*

Interior

Heating Forced Air, Wall Furnace

Cooling None

Fireplace No

Appliance Dishwasher, Refrigerator

Laundry Common Area, In Carport

Exterior

Parking Features Assigned, Covered, Carport, Storage

Pool None

Waterfront Description Ocean Access

View Y/N Yes

View Bay, Catalina, City Lights, Coastline, Harbor, Marina, Ocean, Panoramic, Pier, Water

Total Parking Spaces 8

Private Pool No

Building

Faces West

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Construction Status Fixer

Others

Senior Community No

Tax ID 4188012038

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Maxwell Forester BRC Advisors- BH #02283478

Nearby Locations

+1(626) 590-1289

andreapazpace@gmail.com

114 Hermosa AVE Hermosa Beach, CA 90254

Andrea Pazmino-Pace

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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114 Hermosa AVE