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$2,399,000
175 Days Online

724 Hermosa Avenue
Hermosa Beach, CA 90254

For Sale|Multi-Family|Contingent
County:
Los Angeles

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(619) 353-5888
724  Hermosa Avenue724  Hermosa Avenue724  Hermosa Avenue724  Hermosa Avenue
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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 cant be replicated in newer buildings, and theres 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 todays market. The property is positioned on a coveted west-facing 40 extra-wide lot. Its 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 Plazas restaurants 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 cant be replicated in newer buildings, and theres 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 todays market. The property is positioned on a coveted west-facing 40 extra-wide lot. Its 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 Plazas restaurants and shops, The Strand, and summer beach concerts. Hermosas pristine wide sandy beach is just 8 doors away and is the favored training ground of pro beach volleyball players.

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Listing Snapshot
Price 
$2,399,000
Days Online 
175 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.0688 Acres
Year Built 
N/A
MLS Number 
SB21173271
Status 
Contingent
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
5 days agoListing updated with changes from the MLS
5 days agoStatus changed to CONTINGENT
2 months agoStatus changed to ACTIVE
2 months agoPrice changed to $2,399,000
6 months agoListing first seen online
General Features
Terms 
CashConventional
Stories 
1 Story
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Exterior Features
Pool 
N/K
Community Features
Miscellaneous 
Value in Land
Listing courtesy of Pacifica Properties Group, Inc.

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Copyright © 2022 San Diego MLS®.

Data last update at 2022

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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