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Hermosa Beach, CA 90254 1242 Hermosa Avenue

$7,400,000

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Presented By: Stephen Lampe with Re/Max Commercial & Investment; slampe@remaxcir.com
  • MLS# SB24045918
  • 03/06/2024
  • Request Tour
  • Request Info
  • FootageSQFT • 9,551

Home Details

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.
Presented By: Stephen Lampe with Re/Max Commercial & Investment; slampe@remaxcir.com

Interior Features for 1242 Hermosa Avenue

Other Interior Features

LivingAreaSourceAssessor
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Street SuffixAvenue
Total Stories2

Other Rooms

Entry Level1

General for 1242 Hermosa Avenue

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.16
Carport Y/NNo
CityHermosa Beach
CountyLos Angeles
Current FinancingAssumable
Days on Market
DirectionsJust north of Pier Ave
Garage Y/NNo
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense6426.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet8004.0
MLS Area148 - Hermosa Bch Sand
MaintenanceExpense18349.0
MobileHomeRemainsYNNo
Net Operating Income382062.0
New ConstructionNo
Number of Units Leased4
Occupancy DescriptionOwner
Operating Expense118017.0
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalRetail
Property SubTypeRetail
Property TypeCommercialSale
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameHermosa
Tax Annual Amount78440.0
Tax Year2024
UtilitiesCableConnected, ElectricityConnected, NaturalGasConnected, PhoneConnected, SewerConnected, WaterConnected
View Y/NNo
Waterfront Y/NNo
Year Built1924
Year Built SourceAssessor
ZoningHBC2YY

Exterior for 1242 Hermosa Avenue

Building Area Total9551.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLevel, RectangularLot
Lot Size Acres0.1837
Lot Size Area8004.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Open Parking Y/NNo
SpaNo
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $7,400,000
MLS#SB24045918
List Date 03/06/2024
Property Type Commercial
Phone 714.964.3311
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CRMLS Compliance Statements & Disclaimers

*According to the National Association of Realtors