Price Reduced Listing
71 19th Street,Hermosa Beach, CA 90254
Hermosa Beach, CA 90254
Description
Reduced price and increased income! 71 19th Street in north Hermosa Beach is a seven-unit apartment building on a coveted 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 include *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. *Balcony inspection completed and passed. 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.
Details
| MLS # | 26853499 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 98 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | Daniel Shieh |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 7 |
| SQ Feet | 4,032 |
| Story(s) | 2 |
| Units | 7 |
| Building(s) | 1 |
| Zoning | HBR2B* |
| Acreage | 0.07 |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
Parking
| Parking Features | Door Multi, Door Single, Garage |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Hermosa Beach |
| Zip Code | 90254 |
| Area | 148 Hermosa Bch Sand |
| Listing VS Median (in 90254) | |
Price: $4,350,000 low | high Med: $1,524,500 sqft: 4,032 low | high Med: 1,241 $ / sqft: $1,079 low | high Med: $1,278 On site: 98 low | high Med: 11 | |
Market Activity 90254
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Hermosa Beach |
| Zip Code | 90254 |
| Area | 148 Hermosa Bch Sand |
| Listing VS Median (in 90254) | |
Price: $4,350,000 low | high Med: $1,524,500 sqft: 4,032 low | high Med: 1,241 $ / sqft: $1,079 low | high Med: $1,278 On site: 98 low | high Med: 11 | |
