724 Hermosa Avenue
724 Hermosa Avenue
$2,350,000
4
3
1,973
1,973
$1,191
Closed 5/9/22
Description
Attention investors, second home buyers, vacation property specialists, landbankers and developers! This Flex-Use Vintage California Beach Cottage presents many opportunities for the astute buyer. Ready for occupancy now, the property was just freshly painted inside and out, with new flooring, ceiling fans, lighting and landscaping. Its inviting, beachy character shines through! Classic charm like this simply can’t be replicated in newer buildings, and there’s a further value-add opportunity to maximize...Attention investors, second home buyers, vacation property specialists, landbankers and developers! This Flex-Use Vintage California Beach Cottage presents many opportunities for the astute buyer. Ready for occupancy now, the property was just freshly painted inside and out, with new flooring, ceiling fans, lighting and landscaping. Its inviting, beachy character shines through! Classic charm like this simply can’t be replicated in newer buildings, and there’s a further value-add opportunity to maximize rents and value by upgrading the kitchens and bathrooms. As a duplex, this property provides many flexible and versatile use options. 1) Hold it as a legacy investment property to build generational wealth as the current owners have. 2) Live in one of the units and rent out the other for income - the rent will offset about $900k of your mortgage, making it a compelling effective net purchase of $1.6m. 3) Use it as a fun vacation home or vacation rental where the side-by-side units provide co-living for extended family/kids in their own private spaces. 4) Set your children up to live in a family-owned property while they attend college or start their professional life, then retain for investment or build your dream home. 5) Develop a beautiful new 4,400+ sf 3 story home with a rental unit that would be worth approx. $5.7m in today’s market. The property is positioned on a coveted west-facing 40’ extra-wide lot. It’s all about life by the beach here. This is a fun and active, car-optional location, ideal for beachgoers who love being in the mix and close to Pier Plaza’s restaurants and shops, The Strand, and summer beach concerts. Hermosa’s pristine wide sandy beach is just 8 doors away and is the favored training ground of pro beach volleyball players.
- Listed by Karynne Thim • DRE #01161295 • Brokerage DRE #02142076 • Pacifica Properties Group, Inc.
Property Details for 724 Hermosa Avenue
Architectural Style
Bungalow, Cottage
Parking Spaces Total0
Private PoolNo
Total Units2.0
Building TypeAttached
Lot Size SourceAssessor
Living Area1973
Assessor Parcel Number4187-021-040
Location
LISTING UPDATED: 05/09/2022 03:24 AM
Property Details for 724 Hermosa Avenue
Status | Closed |
---|---|
MLS # | SB21173271 |
Days on Market | 170 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1912 |
Lot Size | 0.07 AC / 2,996 SF |
County | Los Angeles County |
Location
Building Information for 724 Hermosa Avenue
Stories1Residences-Year Built1912Building Size-Lot Size0.07 AC / 2,996 SF
Payment Calculator
$12,825 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 724 Hermosa Avenue
Property History for 724 Hermosa Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 724 Hermosa Avenue
This home is within Hermosa Beach City Elementary School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | 4 to 8 | |||
Public - | K to 3 | |||
Private - | 6 to 12 | |||
Private - | PK to 8 |
Rating | School | Distance |
---|---|---|
Hermosa Valley Elementary School Public4 to 8 | ||
Hermosa View Elementary School PublicK to 3 | ||
Fusion Academy Sb: South Bay Private6 to 12 | ||
Our Lady Of Guadalupe Elementary School PrivatePK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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