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Listing 1 out of 69
$10,999,000 For Sale

1836 The Strand
Hermosa Beach, CA 90254

5 units | Multi Family Home
2405 sq ft - MLS# 19422854
Property Photo
1/21

Description

The entire asset has been gutted and redone front the studs out with permits, as necessary. The recent $650,000 capital expenditure includes NEW: roofs, plumbing, windows, decking, railings, waterproofing (in the walls), as well as all new subpanels and ALL wiring throughout! The interior "fit-and-finish" is beach-chic, with nothing left to be desired. All units boast hardwood, marble, subway tile, recessed lighting etc. The building's location on its parcel, is also superior to virtually everything on The Strand. Setback requirements, at its date of construction were virtually non-existent - the front balconies almost hang right over the bike path and sand! The view is actually greater than 180 degrees! Making a perfect view, better. Lastly, the offering affords an investor the opportunity to assume excellent, BELOW-MARKET, in-place financing. The current loan has a principal balance of $4,900,000 at a rock-bottom monthly payment of 4.25% Interest-Only - until August 2020.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 90254
  • Year Built: 1928
  • Units: 5 units
  • Fireplace: Living Room, Yes
  • Lot Size: 2405 sq ft
  • View: Ocean, Yes
  • Zoning: HBR2B*
  • Area: 148 - Hermosa Bch Sand
  • Appliances: Tankless Water Heater, Built In Range
  • Appliances YN: Yes
  • Building Area Total: 3908.00
  • Construction Materials: Stucco
  • Directions: Take Pier Avenue to Hermosa Avenue, turn right; left on 19th to Beach Drive and The Strand
  • Flooring: Wood
  • Garage Income: 9000.00
  • Gross Multiplier: 30.67
  • Gross Operating Income: 358620.00
  • Insurance Expense: 2044.00
  • Laundry Income: 1200.00
  • Listing Agent License: 01330706
  • Listing Office License: 00530854
  • Lot Features: Sprinklers None
  • Lot Size Area: 2403.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CL
  • Net Operating Income: 224596.00
  • Number Of Buildings: 2
  • Operating Expense: 15712.00
  • Parking Features: Garage
  • Parking YN: Yes
  • Roof: Composition
  • Room Type: Living Room
  • Stories Total: 3
  • Total Actual Rent: 317074.00
  • Total Expenses: 133465.00
  • Window Features: Double Pane Windows
Courtesy of Marcus & Millichap, Brice Head

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