724 HERMOSA AVENUE, HERMOSA BEACH, CA 90254

  • 1,973 sqft
  • Lot Size: 2,996 sqft
  • Built in 1912
  • MLS #SB21173271
For Sale $2,399,000

Description

Attention investors, second home buyers, vacation property specialists, landbankers and developers! This Flex-Use Vintage California Beach Cottage presents many opportunities for the astute buyer. Ready for occupancy now, the property was just freshly painted inside and out, with new flooring, ceiling fans, lighting and landscaping. Its inviting, beachy character shines through! Classic charm like this simply can’t be replicated in newer buildings, and there’s a further value-add opportunity to maximize rents and value by upgrading the kitchens and bathrooms. As a duplex, this property provides many flexible and versatile use options. 1) Hold it as a legacy investment property to build generational wealth as the current owners have. 2) Live in one of the units and rent out the other for income - the rent will offset about $900k of your mortgage, making it a compelling effective net purchase of $1.6m. 3) Use it as a fun vacation home or vacation rental where the side-by-side units provide co-living for extended family/kids in their own private spaces. 4) Set your children up to live in a family-owned property while they attend college or start their professional life, then retain for investment or build your dream home. 5) Develop a beautiful new 4,400+ sf 3 story home with a rental unit that would be worth approx. $5.7m in today’s market. The property is positioned on a coveted west-facing 40’ extra-wide lot. It’s all about life by the beach here. This is a fun and active, car-optional location, ideal for beachgoers who love being in the mix and close to Pier Plaza’s restaurants and shops, The Strand, and summer beach concerts. Hermosa’s pristine wide sandy beach is just 8 doors away and is the favored training ground of pro beach volleyball players.

FACTS / FEATURES

  • Built in 1912
  • Lot Size: 2,996 sqft
  • Style: Bungalow,Cottage

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Listing Provided by Karynne Thim, Pacifica Properties Group, Inc.
Based on information from California Regional Multiple Listing Service, Inc. as of December 6, 2021. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.