71 19th St 7 Unit Apartment Building $4,750,000 ($678,571/Unit) 3.07% Cap Rate Hermosa Beach, CA 90254

71 19th Street in Hermosa Beach is a seven-unit apartment building on a walk street located just steps from the beach, Hermosa Pier, restaurants, retail, and everything that makes Hermosa Beach one of Southern California's most sought-after rental markets.
Investment Highlights:
• Seven (7) 1 Bed / 1 Bath units
• Two units delivered vacant at closing
• Significant rental upside with existing rents below market
• Opportunity to immediately renovate and lease vacant units at market rates
• Capitalize on a furnished short-term rental strategy for the vacant units (download OM to read about the recent overturning of short term rental ban in Hermosa Beach)
• Potential additional income from 3 vacant garages that sellers have been using (each were fetching $200/mo over 10 years ago)
• Exceptional walkability, literally just steps from the sand and pier
• Strong long-term appreciation fundamentals driven by limited multifamily supply and high barriers to entry on the coast
What makes this opportunity particularly compelling is the ability for a new owner to immediately begin executing a value-add strategy. With two vacant units delivered at closing, investors can renovate, establish new market-rate rents or execute a short term rental strategy, and create a blueprint for future rent growth throughout the property.
In a market where tenant turnover can take years to achieve, acquiring a coastal asset with immediate vacancy and meaningful upside is an ideal rarity.
Beyond the operational opportunity, investors benefit from the wealth-building advantages of owning an irreplaceable coastal multifamily asset, long-term appreciation potential, depreciation benefits, and the ability to preserve capital in one of Los Angeles County's most supply-constrained submarkets.