1242 Hermosa Avenue, Hermosa Beach, CA 90254 (MLS # SB24045918)

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PRICE $7,400,000 dsIDX morgage calculator
SIZE 9,551 sqft
LOT SIZE 8,002 sqft
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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.

DAYS ON MARKET 71 LAST UPDATED 3/6/2024
YEAR BUILT 1924 COMMUNITY Hermosa Bch Sand
COUNTY Los Angeles STATUS Active
PROPERTY TYPE(S) Commercial


ADDITIONAL DETAILS
AREA Hermosa Bch Sand
BUYER'S BROKERAGE COMPENSATION 2.000 %
LOT 8004 sq ft
LOT DESCRIPTION Level, Rectangular Lot
STORIES 2
TAXES 78440
UTILITIES Cable Connected,Electricity Connected,Natural Gas Connected,Phone Connected,Sewer Connected,Water Connected
WATER Public
ZONING HBC2YY
MORTGAGE CALCULATOR
   

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Listed with Re/Max Commercial & Investment

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