Active
1242 Hermosa Avenue
Hermosa Beach CA, 90254
$7,400,000
$774.79 per sqft
Active
9,551 sqft
Commercial
Built in 1924
Listed by Stephen Lampe with Re/Max Commercial & Investment 310 802-2500
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.
SB24045918
MLSⓇ ID
March 6, 2024
Listed
March 28, 2024
Updated
Map
1242 Hermosa Avenue
Hermosa Beach CA, 90254
Interior Features
Total Stories
2
Laundry Description
None
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.18 Acres
Lot Features
Level, Rectangular Lot
Other Property Details
Area Name
148 - Hermosa Bch Sand
Taxes
$78,440
Tax Frequency
Annually
Garage
No
View
No
County
Los Angeles
Water Source
Public
Pool
No
Zoning
HBC2YY
Buyer Agency Compensation
2%
Listing Contact: 310 802-2500
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/28/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 3/28/2024 at 3:34 PM UTC