1731 Pacific Coast Hwy, Hermosa Beach, CA 90254

1731 Pacific Coast Hwy, Hermosa Beach, CA 90254

Hermosa Beach, CA

Property Description

The Oceanus in Hermosa Beach is a rare opportunity to purchase a large building in an exclusive beach community in the greater South Bay area of Los Angeles. The 16,211 SqFt building sits on a huge, 18,591 SqFt Lot and boasts a total of 20 Two-Bedroom, One-Bathroom units. With 40 Parking Spaces total, every unit has been allocated two parking spots each. The tenants also have access to the private pool on the property. This building has been maintained meticulously by the current owner, who has newly installed solar panels on the roof, two washer/dryer rooms, and heating apparatuses. This trophy building is located right in the heart of Downtown Hermosa and is in walking distance to countless restaurants, gyms, grocery stores, and the beach. This opportunity is perfect for any long-term investor looking to place their money in a rare, constantly appreciating asset.

Property Features

  • Sale Price: $11,499,000
  • Area Size: 16,211 Sq. Ft.
  • Land Area: 18,591 Sq. Ft.
  • Year Built: 1963
  • Listing Date: 2/23/2023
  • Units: 20
  • Current GRM: 18.24
  • Current Cap Rate: 3.38%
  • Price Per Unit: $574,950
  • Market GRM: 13.26
  • Market Cap Rate: 5.38%
  • Current NOI: $ 388,577