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Listing 10 out of 69
$6,752,100 For Sale

538 8th Street
Hermosa Beach, CA 90254

10 units | Multi Family Home
6482 sq ft - MLS# SB18170401
Property Photo
1/40

Description

538 8th Street, Hermosa Beach is a once in lifetime 10-unit apartment building located in the sand section just five blocks from the beach with proximity to Hermosa Beach, Redondo Beach and Manhattan Beach piers. This well-kept property is located west of Valley Drive and consists of four levels, two of which are dedicated to living space, a subterranean parking garage, and an expansive rooftop deck with ocean and valley views . The building has 9,083 square feet on 6,483 sqft lot of land (0.02 Acres) zoned R3. The apartment unit mix consists of nine 2-bedroom units and one 1-bedroom unit. Each unit comes with gas range, refrigerator and dishwasher. Each unit also has a balcony deck some of which have valley and ocean views. The property has five assigned tandem parking spots and five assigned single parking spaces as well as one guest spot for a total of 16 parking spots on the property. The property also has a dedicated laundry room with two washers and two dryers, storage room and an interior bicycle storage area. Boasting an excellent walkscore of 88, tenants have access to many amenities including the greenbelt, Hermosa Beach restaurants and shops and the Redondo Beach harbor. For families, this property also provides proximity to several award Hermosa Beach schools as well as Mira Costa High School and Redondo Union High School. Six out the ten units are currently on month-to-month tenancy.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 90254
  • Year Built: 1971
  • Stories: Three Or More
  • Units: 10 units
  • # of Parking Spaces: 16.00
  • Lot Size: 6482 sq ft
  • Accessibility: Parking
  • View: Ocean,Peek-A-Boo,Valley, Yes
  • Area: 148 - Hermosa Bch Sand
  • Appliances: Dishwasher, Gas Range, Refrigerator, Water Heater Central, Water Heater Unit
  • Appliances YN: Yes
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 9083.00
  • Building Area Units: Square Feet
  • Cap Rate: 3.40
  • Carport Spaces: 1.00
  • Common Walls: 1 Common Wall
  • Community Features: Sidewalks
  • Country: US
  • Directions: Located west of Valley Drive
  • Electric Expense: 1738.00
  • Fuel Expense: 2690.00
  • Garage Spaces: 15.00
  • Gardener Expense: 200.00
  • Green Energy Efficient: Water Heater
  • Gross Income: 313566.00
  • Gross Multiplier: 18.90
  • Gross Scheduled Income: 311508.00
  • Insurance Expense: 3788.00
  • Interior Features: Storage Space
  • Laundry Equipment Own Lease: Own
  • Laundry Features: Individual Room
  • Laundry Income: 2058.00
  • Laundry YN: Yes
  • Listing Agent License: 01934991
  • Listing Office License: 01968431
  • Lot Features: 6-10 Units/Acre, Greenbelt
  • Lot Size Area: 6483.0000
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 5494.00
  • Net Operating Income: 227887.00
  • New Taxes Expense: 71909.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 10
  • Number With Dishwasher: 10
  • Number With Disposal: 10
  • Number With Range: 10
  • Number With Refrigerator: 10
  • Operating Expense: 85679.00
  • Parking Features: Assigned, Built-In Storage, Driveway, Subterranean
  • Parking YN: Yes
  • Property Attached YN: Yes
  • Security Features: Smoke Detector
  • Sewer: Public Sewer
  • Total Actual Rent: 281508.00
  • Total Expenses: 85679.00
  • Trash Expense: 1700.00
  • Utilities: Sewer Connected
  • Walk Score: 88
  • Water Sewer Expense: 3541.00
  • Water Source: Public
Courtesy of Strand Hill Christies International Real Estate, William Joseph

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