$2,350,000
$2,399,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
3 Beds
3 Baths
1,973 SqFt
SOLD DATE : 05/09/2022
Key Details
Sold Price $2,350,000
Property Type Townhouse
Sub Type Townhome
Listing Status Sold
Purchase Type For Sale
Square Footage 1,973 sqft
Price per Sqft $1,191
MLS Listing ID SB21170201
Sold Date 05/09/22
Style Townhome
Bedrooms 3
Full Baths 3
HOA Y/N No
Year Built 1912
Lot Size 2,996 Sqft
Acres 0.0688
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 rental unit that would be worth approx. $5.7m in todays market. Positioned on a coveted west-facing 40 extra-wide lot, 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 volle
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 rental unit that would be worth approx. $5.7m in todays market. Positioned on a coveted west-facing 40 extra-wide lot, 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.
Location
State CA
County Los Angeles
Area Hermosa Beach (90254)
Zoning HBR3YY
Interior
Equipment Refrigerator, Gas Range
Appliance Refrigerator, Gas Range
Laundry Inside
Exterior
Fence Wood
Roof Type Shingle
Building
Lot Description Curbs, Sidewalks
Lot Size Range 1-3999 SF
Sewer Public Sewer
Water Public
Architectural Style Cottage, Craftsman/Bungalow
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional, Cash To New Loan
Listing Terms Cash, Conventional, Cash To New Loan
Special Listing Condition Standard
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Bought with Karynne Thim • Pacifica Properties Group, Inc.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "