600 1st St, Hermosa Beach, CA 90254

600 1st St, Hermosa Beach, CA 90254

Hermosa Beach, CA

Property Description

Lyon Stahl Investment Real Estate, Inc. is pleased to present 600 1st St in Hermosa Beach, a townhouse style 4-unit property built in 1987.  The building consists of all 2-Bed/2-Bath units with nearly 1,000 square feet per unit. Select units feature ocean and Palos Verdes views, with a combined living area of 3,932 square feet on a 4,397 square foot lot. Each unit also contains two garage spaces and the rear unit was recently remodeled with brand new countertops and appliances.

This well-maintained building is West of PCH in one of the strongest rental markets in California, just a few blocks from King Harbor Marina and all the amenities in Downtown Hermosa Beach. The property has fantastic in-place income and is near market rent for all units. This is an ideal investment opportunity for a yield-focused investor interested in building equity in an A+ location.

<strong>Investment Highlights: </strong>
<li>(4) Large 2-Bed/2-Bath Units | Separately Metered for Gas &amp; Electricity</li>
<li>Built in 1987 | Located West of PCH with Ocean Views</li>
<li>8 Total Garage Spaces and Private Balconies for Each Unit</li>
<li>Excellent Location – Blocks from the Beach, King Harbor Marina, and Downtown Hermosa Beach</li>

Property Features

  • Sale Price: $2,995,000
  • Area Size: 3,932 SF
  • Land Area: 4,397 SF
  • Year Built: 1987
  • Closing Date: 1/9/20
  • Units: 4
  • Current GRM: 19.72
  • Current Cap Rate: 3.54%
  • Market GRM: 17.02
  • Market Cap Rate: 4.17%

Lyon Stahl Investment Real Estate

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