718 Hermosa Avenue Hermosa Beach, 90254

Bedrooms:
3
Bathrooms:
3
Square Feet:
1,973 sqft
Price $2,399,000 .00
Approx /month
Get More Details
Sale Price:
$2,399,000
Loan Type:
Conventional - 5% down
FHA - 3.5% down
VA - 0% down
Additional $ Down:
Total Down Payment:
Loan Term: (years)
Interest Rate: (%)
Property Tax: (year)
$0
Insurance: (year)
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Virtual Tour of 718 Hermosa Avenue , Hermosa Beach 90254

Property Description

Your Flex-Use Vintage California Beach Cottage awaits! Freshly painted inside and out, with new flooring, ceiling fans, lighting and landscaping, an inviting, beachy character shines through. Classic charm like this simply cant be replicated in newer buildings, and theres a further value-add opportunity by upgrading the kitchens and bathrooms. As a duplex, this property provides many flexible and versatile use options. 1) Hold it as a legacy investment property to build generational wealth as the current owners have. 2) Live in one of the units and rent out the other for income - the rent will offset about $900k of your mortgage, making it a compelling effective net purchase of $1.6m. 3) Use it as a fun vacation home or vacation rental where the side-by-side units provide co-living for extended family/kids in their own private spaces. 4) Set your children up to live in a family-owned property while they attend college or start their professional life, then retain for investment or build your dream home. 5) Develop a beautiful new 4,400+ sf 3 story home with an ADU that would be worth approx. $5.5m in todays market. Positioned on a coveted west-facing 40 extra-wide lot, the building is currently configured as a 2 bedroom, 1 bath on the south side. On the north side theres a 1 bedroom, 1 bath in the front plus a studio and bath in the back. Each unit has some outdoor space to enjoy the glorious weather and sunshine. Its all about life by the beach here. This is a fun and active, car-optional location, ideal for beachgoers who love being in the mix and close to Pier Plazas restaurants and shops, The Strand, and summer beach concerts. Hermosas pristine wide sandy beach is just 8 doors away and is the favored training ground of pro beach volleyball players including Olympic Gold Medalists Alix Klineman and April Ross among many others. Its all about life by the beach here.

General Information

Price:
$2,399,000
Status:
Active
Listing Updated:
9/13/2021
List Date:
8/6/2021
Close Date
Square Feet:
1,973
Bedrooms:
3
Bathrooms:
3
Garage Spaces:
0
Year Built:
1912
City:
Hermosa Beach
Zip:
90254
County:
Los Angeles
MLS ID:
SB21170201
Listing Broker:
Pacifica Properties Group, Inc.
Listing Agent:
Karynne Thim
CalBRE#:
01161295

Home Features

Interior Features:
Ceiling Fan(s)
Exterior Features:
Appliances:
Gas Range, Refrigerator
Flooring:
Laundry:
Inside
Architectural Style:
Bungalow, Cottage
Levels:
One
Fireplace Features:
None
Cooling:
None
Heating:
Utilities:
Pool Type Features:
None
Spa Features:
Construction Materials:
Roofing:
Shingle
Water Source:
Public
Sewage:
Public Sewer
Accessibility Features:

Community Information

MLS Area:
148 - Hermosa Bch Sand

Lot Information

Lot Size (sq feet):
2,996

Location Information

Directions:
Cross streets 8th and Hermosa Ave