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$ 4,750,000
Est. payment /mo
New
71 19th ST Hermosa Beach, CA 90254
7 Beds
7 Baths
4,032 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,032 sqft
Price per Sqft $1,178
MLS Listing ID 26853499
Bedrooms 7
HOA Y/N No
Year Built 1950
Lot Size 2,848 Sqft
Property Description
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 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.
Location
State CA
County Los Angeles
Area 148 - Hermosa Bch Sand
Zoning HBR2B*
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Door-Multi, Door-Single, Garage
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4182006021
Special Listing Condition Standard
Listed by Daniel Shieh Lyon Stahl Investment Real Estate, Inc. #01978847
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