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35 17th St 8 Unit Apartment Building $4,500,000 ($562,500/Unit) 4.30% Cap Rate Hermosa Beach, CA 90254
Investment Highlights
- Amazing Location!!! The Subject Is Situated On A Double Lot On A Walk Street Just 200 feet from the Sand!
Executive Summary
PROPERTY DESCRIPTION
Introducing a rare investment opportunity in the highly desirable Hermosa Beach area. This charming property is located on a walk street, boasting a 5,040 SF low-rise building, features 8 - Two Bedroom One Bath units and 8 Garages, offering a lucrative investment potential in a sought-after coastal location. Built in 1922, this historic gem is zoned R-2B and presents a unique chance for multifamily investors to maximize rental income. The property's prime location in Hermosa Beach provides easy access to the area's amenities and attractions. With its classic architecture and ideal unit count, this opportunity is perfect for those looking to capitalize on the allure of the Hermosa Beach community in a low-rise setting.
Introducing a rare investment opportunity in the highly desirable Hermosa Beach area. This charming property is located on a walk street, boasting a 5,040 SF low-rise building, features 8 - Two Bedroom One Bath units and 8 Garages, offering a lucrative investment potential in a sought-after coastal location. Built in 1922, this historic gem is zoned R-2B and presents a unique chance for multifamily investors to maximize rental income. The property's prime location in Hermosa Beach provides easy access to the area's amenities and attractions. With its classic architecture and ideal unit count, this opportunity is perfect for those looking to capitalize on the allure of the Hermosa Beach community in a low-rise setting.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$289,728
|
$36.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$289,728
|
$36.22
|
| Taxes |
$51,985
|
$6.50
|
| Operating Expenses |
$35,916
|
$4.49
|
| Total Expenses |
$87,901
|
$10.99
|
| Net Operating Income |
$201,827
|
$25.23
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $289,728 |
| Annual Per SF | $36.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $289,728 |
| Annual Per SF | $36.22 |
| Taxes | |
|---|---|
| Annual | $51,985 |
| Annual Per SF | $6.50 |
| Operating Expenses | |
|---|---|
| Annual | $35,916 |
| Annual Per SF | $4.49 |
| Total Expenses | |
|---|---|
| Annual | $87,901 |
| Annual Per SF | $10.99 |
| Net Operating Income | |
|---|---|
| Annual | $201,827 |
| Annual Per SF | $25.23 |
Property Facts
| Price | $4,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $562,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.30% | Building Size | 5,040 SF |
| Gross Rent Multiplier | 15.53 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1922 |
| Property Type | Multifamily | Parking Ratio | 1.59/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | HBR2B* | ||
| Price | $4,500,000 |
| Price Per Unit | $562,500 |
| Sale Type | Investment |
| Cap Rate | 4.30% |
| Gross Rent Multiplier | 15.53 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,040 SF |
| No. Stories | 2 |
| Year Built | 1922 |
| Parking Ratio | 1.59/1,000 SF |
| Zoning | HBR2B* |
Amenities
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $4,500 | 650 |
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 4183-007-029 | Total Assessment | $432,614 |
| Land Assessment | $240,343 | Annual Taxes | $51,985 ($10.31/SF) |
| Improvements Assessment | $192,271 | Tax Year | 2025 |
Property Taxes
Parcel Number
4183-007-029
Land Assessment
$240,343
Improvements Assessment
$192,271
Total Assessment
$432,614
Annual Taxes
$51,985 ($10.31/SF)
Tax Year
2025
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35 17th St
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