$3,052,500
$3,275,000
6.8%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
6 Baths
3,816 SqFt
SOLD DATE : 11/30/2022
Key Details
Sold Price $3,052,500
Property Type Condo
Listing Status Sold
Purchase Type For Sale
Square Footage 3,816 sqft
Price per Sqft $799
MLS Listing ID SB22185388
Sold Date 11/30/22
Style All Other Attached
Bedrooms 4
Full Baths 6
HOA Y/N No
Year Built 1971
Lot Size 3,170 Sqft
Acres 0.0728
Property Description
New Price! $570K Cumulative Adjustment | 850 Loma Drive is a well-positioned 4-Unit building located on a quiet street in Hermosa Beach less than a half mile from the pier. Built in 1971, the 3,816 SF building features (2) 2-bed/2-bath units, and (2) 1-bed/1-bath units. The property also includes an additional office/storage room (w/ full bathroom and kitchenette) offering the immediate opportunity to legalize as an ADU and maximize income (Buyer to Verify). Other amenities include a 2-Car Garage, (4) Carport Spaces, a shared laundry room & a rooftop deck with sweeping ocean views from Palos Verdes to Malibu. The building offers strong rental income in a high demand area with a current cap of 4.41% and a market cap of 5.12%. Given the ideal location in a high-growth city and consistent income this building provides, this is a great opportunity to own a quality asset for any Beach Cities CRE investor.
New Price! $570K Cumulative Adjustment | 850 Loma Drive is a well-positioned 4-Unit building located on a quiet street in Hermosa Beach less than a half mile from the pier. Built in 1971, the 3,816 SF building features (2) 2-bed/2-bath units, and (2) 1-bed/1-bath units. The property also includes an additional office/storage room (w/ full bathroom and kitchenette) offering the immediate opportunity to legalize as an ADU and maximize income (Buyer to Verify). Other amenities include a 2-Car Garage, (4) Carport Spaces, a shared laundry room & a rooftop deck with sweeping ocean views from Palos Verdes to Malibu. The building offers strong rental income in a high demand area with a current cap of 4.41% and a market cap of 5.12%. Given the ideal location in a high-growth city and consistent income this building provides, this is a great opportunity to own a quality asset for any Beach Cities CRE investor.
Location
State CA
County Los Angeles
Area Hermosa Beach (90254)
Zoning HBR3*
Interior
Cooling Central Forced Air
Fireplaces Type FP in Living Room
Equipment Dryer, Washer
Appliance Dryer, Washer
Exterior
Garage Spaces 2.0
View Ocean
Total Parking Spaces 2
Building
Lot Size Range 1-3999 SF
Sewer Public Sewer
Water Public
Level or Stories 2 Story
Others
Monthly Total Fees $99
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
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Bought with J.Woody Stahl • Lyon Stahl Investment Real Estate, Inc.
1420 Kettner Blvd, Suite 100, Diego, CA, 92101, United States