113 Monterey Blvd, Hermosa Beach, CA 90254

113 Monterey Blvd, Hermosa Beach, CA 90254

Hermosa Beach, CA
$3,550,000

Property Description

113 Monterey Blvd is a turnkey 4-unit building located in the highly sought-after Sand Section of Hermosa Beach. The building was built in 1969 and consists of 3,288 SF of living space situated on a 2,999 SF lot. 113 Monterey Boulevard offers a great unit mix consisting of (3) 2-bed/2-bath units & (1) 1-bed/1-bath unit and has been recently renovated with top-of-the-line upgrades. The property also features an on-site laundry facility and (7) total parking spaces – (2) two-car garages & (3) tandem parking spaces. Located just steps from The Strand in one of the most desirable rental markets in California, this is a perfect opportunity for a yield-focused investor looking to purchase an A+ asset.

Property Features

  • Sale Price: $3,550,000
  • Area Size: 3,288 SF
  • Land Area: 2,999 SF
  • Year Built: 1969
  • Listing Date: 10/27/2020
  • Closing Date: 5/10/2021
  • Units: 4
  • Current GRM: 20.51
  • Current Cap Rate: 3.36%
  • Market GRM: 19.14
  • Market Cap Rate: 3.70%
  • Current NOI: $127,440

Lyon Stahl Investment Real Estate

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