• Asking Price $7,400,000

  • 1242 HERMOSA AVE HERMOSA BEACH, CA 90254

  • 9,551 SqFt
  • Commercial / Resale (MLS)
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Property Details for 1242 HERMOSA AVE, HERMOSA BEACH, CA 90254

Features

  • Price/sqft: $774
  • Lot Size: 0.1837 acres
  • Stories: 100
  • Construction Type: Masonry

Facts

  • Year Built: 01/01/1924
  • Property ID: 894490251
  • MLS Number: SB24045918
  • Parcel Number: 4183-013-067
  • Property Type: Commercial
  • County: Los Angeles

Description

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

This listing is NOT a foreclosure. Located in the vibrant downtown area of Hermosa Beach, this prime retail building features four tenants on net leases; and underwent a full remodel in 2013. Its A+ location is just one block from the beach, surrounded by high-end retail outlets, restaurants, the iconic Hermosa Beach Pier, and the stylish H2O Hermosa hotel. The property boasts excellent frontage, ensuring high visibility to the approximately 30, 000 vehicles passing by daily. Additionally, the area sees significant pedestrian foot traffic, with a population of 25, 000 within a 1-mile radius and 155, 000 within a 3-mile radius. The average annual household income in the area is $149, 500. A key feature of this property is the assumable loan of $3, 300, 000 at a fixed interest rate of 4.50% until December 2024. The principal balance is due in December 2026, offering a favorable financing opportunity for potential buyers.

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All information provided is deemed reliable, but is not guaranteed and should be independently verified.

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