Discover this exceptional triplex proper

563 2nd Street Hermosa Beach CA 90254
Property details
  • Property ID: 25589737
  • Price: $1,749,000
  • Property Size:  
    Sq Ft
  • Bedrooms:
  • Bathrooms:
  • Garage: 2
  • Year Built:Age:1918
  • Property Type:Residential
  • Property Status:For Sale
  • Lot Size:

Description

Discover this exceptional triplex property in the heart of Hermosa Beach, California, perfectly positioned just a few blocks from The Strand and the shimmering Pacific Ocean, embodying the essence of coastal luxury living. As a prime investment opportunity, this versatile asset offers strong potential for owner-occupancy, allowing you to reside in one unit while generating income from the others. With outstanding potential for Accessory Dwelling Units (ADUs), buyers can explore adding extra rentals to significantly boost revenuethough verification of feasibility is advised. Benefiting from favorable rent regulations, the property is exempt from Los Angeles City rent control and falls under AB 1482, enabling attractive annual rent increases to maximize returns. Its eligibility for standard residential financing makes it accessible to a broad spectrum of buyers, simplifying acquisition. Currently delivering robust income with a 2.84% cap rate and 21.66 GRM, it promises even greater upside through pro-forma projections of a 3.71% cap rate. The location's exceptional market appeal shines with proximity to King Harbor, Hermosa Beach Pier, Redondo Beach Pier, and vibrant Pier Avenue, providing endless beachside dining, shopping, and recreational options. Inside, enjoy modern amenities like a fully renovated studio unit and Unit C's private deck for enhanced comfort. Practical features include a spacious 2-car garage for secure parking and on-site laundry facilities that generate an additional $200 per month in passive income. This triplex combines immediate cash flow, growth potential, and an unbeatable seaside lifestyle - don't miss out on this Hermosa Beach gem.


Address
  • Address: 563 2nd Street
  • State/County: CA
  • Area: Embarcadero
  • City: Hermosa Beach
  • Zip: 90254

Courtesy of Shield CRE, Inc. / Gianluca Jacoli 

To Whom It May Concern, California Regional Multiple Listing Service (“CRMLS”) has made changes to the disclaimer which is required on all IDX and VOW displays. If you receive a data feed from CRMLS to create IDX and VOW displays, please ensure that your displays are updated to include the following disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 9/1/2014. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.