635 8th Pl, Hermosa Beach, CA 90254

$3,295,000
8
BD
6
BA
4,376
SqFt
List Price
$3,295,000
MLS#
22-221151
Status
ACTIVE UNDER CONTRACT
Type
Multifamily
Bedrooms
8
Bathrooms
6
Living Area
4,376

Property Description

635-643 8th Pl is the rare opportunity to own a 6-unit multifamily asset on a large 7,520 sq ft lot west of PCH in Hermosa Beach. The property will be delivered with 2 vacant units. Factoring in $100,000 in renovation costs, the property will operate at a 4% cap rate, with a 5.5% cap rate at market. Tenants have the luxury of an onsite laundry room and garage parking. Individually metered for gas and electric, the landlord has low operating expenses. ADU potential in the garages and/or backyard (buyer/buyer's agent to verify). With a 87 WalkScore, tenants enjoy close proximity to the beach, Hermosa Beach Pier, PCH, recreation facilities, and the Greenbelt.

Additional Information

Year Built
1948
Garage
Garage - 4+ Car, Garage Is Attached

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of , Daniel Shieh.

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