635 8th Place, Hermosa Beach, CA 90254
Property
Sold February 2023
Listing Agent: Daniel Shieh (DRE #01978847) · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-425-9838 · Bought with: Robert Freedman · Domo Real Estate · MLS #22221151 · Source: CRMLS
About this property
635-643 8th Pl is the rare opportunity to own a 6-unit multifamily asset on a large 7,520 sq ft lot west of PCH in Hermosa Beach. The property will be delivered with 2 vacant units. Factoring in $100,000 in renovation costs, the property will operate at a 4% cap rate, with a 5.5% cap rate at market. Tenants have the luxury of an onsite laundry room and garage parking. Individually metered for gas and electric, the landlord has low operating expenses. ADU potential in the garages and/or backyard (buyer/buyer's agent to verify). With a 87 WalkScore, tenants enjoy close proximity to the beach, Hermosa Beach Pier, PCH, recreation facilities, and the Greenbelt.
Listing description from the February 2023 sale, as reported to CRMLS.
Sale history