1242 Hermosa Avenue Hermosa Beach, CA ^$ 7,400,000

1242 Hermosa Avenue

^$ 7,400,000

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1242 Hermosa Avenue

Hermosa Beach, CA, 90254

^$ 7,400,000

Studio Baths0.0 Sq 9,551

Monthly Estimate*

^$ 51,691

Listed by Re/Max Commercial & Investment

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 1

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1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 5

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 6

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 7

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 8

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 9

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 10

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 11

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 12

1242 Hermosa Avenue, Hermosa Beach, CA 90254 - Image 13

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Studio

Commercial Property for sale in Hermosa Beach, CA

for $7,400,000. This 9,551 square foot building was built in 1924 on a lot size of 0.1837.

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.

Commercial Active

Price

^$ 7,400,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 78,440

Style

Retail

Lot Size

0.1837

Year Built

1924

Town/City

Hermosa Beach

County/Region

Los Angeles

MLS | Web ID

SB24045918

Days on Market

Features

General

Utilities CableConnected ElectricityConnected NaturalGasConnected PhoneConnected SewerConnected WaterConnected

Zoning HBC2YY

Year Built 1924

Property SubType Retail

Tax Year 2024

County Los Angeles

Net Operating Income 382062.0

Operating Expense 118017.0

Insurance Expense 6426.0

New Construction N

Property Type CommercialSale

HOA / Comm Assn N

Attached Garage N

Garage Y/N N

Special Listing Conditions Standard

Status Active

Directions Just north of Pier Ave

City Hermosa Beach

View Y/N N

Senior Community Y/N N

MLS Area 148 - Hermosa Bch Sand

Lot Size Square Feet 8004.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Number of Units Leased 4

Street Name Hermosa

Property Attached Y/N N

Land Lease Y/N N

Tax Annual Amount 78440.0

Home Warranty Y/N N

Current Financing Assumable

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Days on Market 0

Building Area Units SquareFeet

Standard Status Active

Occupancy Description Owner

Year Built Source Assessor

Property Sub Type Additional Retail

Cap Rate 5.16

Exterior

Lot Features Level RectangularLot

Water Source Public

Lot Size Area 8004.0

Number of Buildings 1

Spa N

Building Area Total 9551.0

Lot Size Acres 0.1837

Lot Size Units SquareFeet

Lot Size Source Assessor

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Street Suffix Avenue

Laundry Features None

Entry Level 1

Electric On Property Y/N N

Internal Only

Street Number 1 1242

* Excluded Features

List By

Re/Max Commercial & Investment

Broker

(310) 880-1151

Phone

Affordability Calculator

$58,228

Per Month

Monthly Principal & Interest: $51,691
Monthly Property Taxes: $6,537
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Hermosa Beach, CA

Average List Price ^$4,382,494

Percent of Sale Price 41%

About Hermosa Beach, CA

19,507 Population

6% Since 2002

^$126,294 Median Income

40.13 Median Age

21% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
3/6/2024	$7,400,000		Listed Price

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1242 Hermosa Avenue, Hermosa Beach, CA, 90254 is a Commercial Property for sale at $7,400,000 with 9,551 sqft and a lot size of 0.1837. 1242 Hermosa Avenue is a studio with 0.0 baths and was built in 1924. The property's zip code is 90254 which is in Hermosa Beach, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 4/28/2024. 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.

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1242 Hermosa Avenue

Commercial Property for sale in Hermosa Beach, CA

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