Property listed by Marcus & Millichap, 424-405-3900
$2,450,000
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… Read More 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. Read Less
Listing Snapshot
Days Online
75
Last Updated
Property Type
SingleFamilyResidence
Beds
6
Full Baths
5
Square Ft.
3,200
Lot Size
0.18 Acres
MLS Number
26844077
Additional Details
Appliances & Equipment
Disposal, Refrigerator
Building
Living area: 3200.0, 1 storey, Levels: One
Cooling
None
Fireplaces
None
Heating
WallFurnace
Laundry
None
Lot
0.1766 acres
Parking
Uncovered
Pool
None
Taxes
Parcel Number: 4185016015, Zoning: HBC3YY
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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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