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538 8th St, Hermosa Beach, CA 90254

$6,100,000

Description

Once in a lifetime opportunity to own this magnificent 10-unit apartment building in the heart of Hermosa Beach. This well cared for property has two floors of living space up top, one level of subterranean parking garage and a wide-open rooftop deck with gorgeous ocean views. This building has 9,083 square feet on 6,483 square feet of precious Hermosa Beach land with R3 zoning. There are 4 units with 2 bedrooms and 2 baths, 5 units with 2 bedrooms and 1 bath and one unit which has 1 bedroom and 1 bath. There is a total of 16 parking spots in the garage. There are 5 assigned tandem parking spots, 5 single parking spots and one guest parking. Each unit is equipped with gas range, refrigerator and a dishwasher. There is a dedicated laundry room with two washers and two dryers, storage room and an interior bicycle storage area which fits the Hermosa lifestyle. Access to amenities are endless including the famous green belt, restaurants and shops and the strand. For families with children, there are award-winning Hermosa Beach schools and high schools. This is the epitome of South Bay beach living.

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Address

  • City: Hermosa Beach
  • State/county: CA
  • Country: United States

Detail

Updated on June 7, 2019 at 5:45 pm

  • Price: $6,100,000
  • List Date: 3/29/19
  • Property Size: 9,038 Sq Ft
  • Land Area: 6,483 Sq Ft
  • Garage Size: 16
  • Year Built: 1971
  • Property Type: Multifamily, Apartment
  • Property Status: Active
  • Numbers of Units: 10
  • GRM: 21.93
  • CAP RATE: 2.53%
  • Price per Unit: $625,000
  • Market GRM: 16.10
  • Market CAP RATE: 4.10%

Contact info

Dow Chang
Dow Chang
(323) 545-0164(310) 702-5501
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