32 16th St, Hermosa Beach, CA 90254

32 16th St, Hermosa Beach, CA 90254

Hermosa Beach, CA
$4,200,000

Property Description

INVESTMENT HIGHLIGHTS

  • 7-Units Located on a Walkstreet in Prime North Hermosa Beach | (3) Parcels From the Strand
  • Built in 1923 | 3,786 SF Building on a 3,531 SF Lot (Zoned R-23)
  • Includes On-Site Laundry Room, (3) Single-Car Garages, and Courtyard
  • Unit Mix: (6) 1-Bed/1-Bath, (1) 0-Bed/1-Bath
  • Strong Rental Upside in a High Demand Area | Market Cap: 4.30%

EXECUTIVE SUMMARY

32 16th Street is a well-positioned 7-Unit building located on a walk street in prime North Hermosa Beach only 3 parcels from the Strand. Built in 1923, the 3,786 SF building sits on a 3,531 SF lot, and features (6)1-bed/1-bath unit, and (1) 0-bed/1-bath unit. The building offers strong rental upside in a high demand area with a market cap of 4.30%. The property also includes on-site laundry and 3 single-car garages with a courtyard in between the buildings.
Given the ideal location in a high-growth city and consistent income this building provides, this is a great opportunity to own a quality asset for any Los Angeles CRE investor.

Property Features

  • Sale Price: $4,200,000
  • Area Size: 3,786 SF
  • Year Built: 1923
  • Listing Date: 6/21/2022
  • Units: 7

Lyon Stahl Investment Real Estate

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