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32 16 Street

Hermosa Beach, CA 90254
  • $4,200,000
  • STATUS: Pending
  • ON SITE: 10 Days
  • ID#: SB22135138
Pending
UPDATED: 29 min ago
$4,200,000
  • 0
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing Agent(s): J.Woody Stahl of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Brett Lyon of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)


Description

32 16th Street is a well-positioned 7-Unit building located on a walk street in prime Hermosa Beach only 3 parcels from the Strand. Built in 1923, the 3,786 SF building sits on a 3,531 SF lot, and features (6) 1-bed/1-bath units, and (1) 0-bed/1-bath unit. The building offers strong rental upside in a high demand area with a market cap of 4.30%. The property also includes on-site laundry and 3 single-car garages with a courtyard in between the buildings.Given the ideal location in a high-growth city and consistent income this building provides, this is a great opportunity to own a quality asset for any Los Angeles CRE investor.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-07-02T22:28:03.707. 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 deemed reliable but is not guaranteed accurate by the MLS or Powerhouse Real Estate. Licensed in the State of California, USA.
www.thepowerhouserealestate.com/homes/130096269
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32 16 Street Hermosa Beach, CA 90254

  • Price: $4,200,000
  • Status: Pending
  • On Site: 10 Days
  • Updated: 29 min ago
  • ID#: SB22135138
0
Beds
0
Baths
0
½ Baths
0.08
Acres
1923
Built
Neighborhood:
148 - Hermosa Bch Sand
County:
Los Angeles
Area:
148 - Hermosa Bch Sand
Property Description
32 16th Street is a well-positioned 7-Unit building located on a walk street in prime Hermosa Beach only 3 parcels from the Strand. Built in 1923, the 3,786 SF building sits on a 3,531 SF lot, and features (6) 1-bed/1-bath units, and (1) 0-bed/1-bath unit. The building offers strong rental upside in a high demand area with a market cap of 4.30%. The property also includes on-site laundry and 3 single-car garages with a courtyard in between the buildings.Given the ideal location in a high-growth city and consistent income this building provides, this is a great opportunity to own a quality asset for any Los Angeles CRE investor.
Exterior Features

Lot Features Walkstreet Number Of Separate Electric Meters 6 Parking Total 3 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Cap Rate 2.29 Common Interest None Community Features Biking Contingency 1. Questions: All Specific Property Related information is Covered in The Marketing Package in The Supplemental Section On The Mls. ----- 2. Communication: Please Direct Any Additional Questions Not Covered in The Marketing Package To Our Team At Broker@Lyonstahl.Com. ----- 3. Showings: There Will Be No Showings Or Open Houses. Please Submit Offers Subject To interior inspection. ----- 4. Offers: Please Submit Offers To Broker@Lyonstahl.Com. Please include Proof Of Funds And Pre-Approval (If App Fuel Expense 0 Garage YN Yes Gross Income 172190 Gross Scheduled Income 172190 Insurance Expense 1514 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Maintenance Expense 5166 Net Operating Income 96074 New Construction YN No New Taxes Expense 46655 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 76116 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Actual Rent 12291 Trash Expense 2000 Water Sewer Expense 3600 Water Source Public Zoning Hbr2b2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-07-02T22:28:03.707. 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 deemed reliable but is not guaranteed accurate by the MLS or Powerhouse Real Estate. Licensed in the State of California, USA.
 
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Powerhouse Real Estate
2447 Pacific Coast Highway, 2nd Floor
Hermosa Beach CA, 90254
Listing Agent(s): J.Woody Stahl of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Brett Lyon of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)