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1702 Hermosa Ave 10 Unit Apartment Building $8,995,000 ($899,500/Unit) 2.71% Cap Rate Hermosa Beach, CA 90254
Investment Highlights
- $1,000,000 Price Reduction
- Complete Rehab & Renovation of Exterior & Interior in 2023, 2024 & 2025
- Priced well below Hermosa Beach condominium & single-family homes located in a high-barrier to entry market with exceptional tenant demand
- Rare Oceanview Income Property on Hermosa Avenue
- New: Roof, Plumbing, Sub-Panels, Water Heaters, Kitchens, Bathrooms, Appliances Wiring, Windows & More
- Ocean views and minutes to sand, surf & Pier Avenue’s renowned dining and retail
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$391,560
|
$70.95
|
| Other Income |
$1,709
|
$0.31
|
| Vacancy Loss |
$7,831
|
$1.42
|
| Effective Gross Income |
$385,438
|
$69.84
|
| Taxes |
$89,989
|
$16.31
|
| Operating Expenses |
$51,225
|
$9.28
|
| Total Expenses |
$141,214
|
$25.59
|
| Net Operating Income |
$244,224
|
$44.25
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $391,560 |
| Annual Per SF | $70.95 |
| Other Income | |
|---|---|
| Annual | $1,709 |
| Annual Per SF | $0.31 |
| Vacancy Loss | |
|---|---|
| Annual | $7,831 |
| Annual Per SF | $1.42 |
| Effective Gross Income | |
|---|---|
| Annual | $385,438 |
| Annual Per SF | $69.84 |
| Taxes | |
|---|---|
| Annual | $89,989 |
| Annual Per SF | $16.31 |
| Operating Expenses | |
|---|---|
| Annual | $51,225 |
| Annual Per SF | $9.28 |
| Total Expenses | |
|---|---|
| Annual | $141,214 |
| Annual Per SF | $25.59 |
| Net Operating Income | |
|---|---|
| Annual | $244,224 |
| Annual Per SF | $44.25 |
Property Facts
| Price | $8,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $899,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 2.71% | Building Size | 5,519 SF |
| Gross Rent Multiplier | 22.9 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1953/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Zoning | R3, Hermosa Beach | ||
| Price | $8,995,000 |
| Price Per Unit | $899,500 |
| Sale Type | Investment |
| Cap Rate | 2.71% |
| Gross Rent Multiplier | 22.9 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,519 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2023 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | R3, Hermosa Beach |
Amenities
Unit Amenities
- Balcony
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $3,412 | 550 - 650 |
| 2+1 | 4 | $3,151 | 670 |
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 4183-010-011 | Total Assessment | $6,267,158 |
| Land Assessment | $6,151,102 | Annual Taxes | $89,989 ($16.31/SF) |
| Improvements Assessment | $116,056 | Tax Year | 2025 Payable 2026 |
Property Taxes
Parcel Number
4183-010-011
Land Assessment
$6,151,102
Improvements Assessment
$116,056
Total Assessment
$6,267,158
Annual Taxes
$89,989 ($16.31/SF)
Tax Year
2025 Payable 2026
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Contact the Sale Advisor
1702 Hermosa Ave