NOT LISTED FOR SALE

Estimated Value: $2,796,000 - $4,005,000

5 Beds
3 Baths
2,113 Sq Ft
$1,627/Sq Ft Est. Value

Last Sold March 01, 2016

Last sale price $2,350,000 $1,112 Per Sq Ft

Est. 46% increase in value since last sale

Current estimated payment $20,464/month

12 Days on Market

Highlights

  • White Water Ocean Views
  • Property has ocean access
  • Dual Staircase
  • Hermosa Valley Elementary School Rated A
  • Open Floorplan
  • Fireplace in Primary Bedroom

About This Home

As of March 2016

Amazing investment opportunity to own income property just steps from the sand w/ true pride of ownership! 122 1st St is a Craftsman-style beach cottage legal duplex. This property has ocean views from almost every room in each unit- You can watch people playing volleyball & the waves crashing from your sun porches. The main house has 3 beds & 2 remodeled baths, plus your choice of 3 outdoor decks for lounging & entertaining. The 2nd unit has 2 beds & 1.5 remodeled baths. The master suite is sprawling & has a large west facing sun deck. Both units have their own washer/dryer inside, large kitchen islands w/ bar tops, hardwood floors throughout, HVAC, high efficiency heaters, wide open floor plans, tons of natural light, charming character throughout & 5 car garage parking!! You won't find parking like this at any other duplex for sale in the HB sand section- 3 car garage for main unit & 2 car private garage for the 2nd unit + tons of storage. Street to alley corner lot, zoned R3. Great south Hermosa location just 1 block to the sand and just a few blocks away to shopping & dining at the Redondo Beach Pier, which is getting a major renovation, as well as the Hermosa Beach Pier, which is also getting a brand new hotel and new shops on Pier Plaza.

Last Agent to Sell the Property

Taya DiCarlo

Compass License #01751317 Listed on: 01/27/2016

Compass

Co-Listed By

Alicia Blackburn

REMAX AEGIS License #01855156

Last Buyer's Agent

Suzanne Dyer

Strand Hill Properties License #01054310

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $29,641

Year Built

  • Built in 1993

Lot Details

  • 3,035 Sq Ft Lot
  • Lot Dimensions are 95 x 32
  • No Common Walls
  • West Facing Home
  • Corner Lot
  • Drip System Landscaping

Parking

  • 5 Car Garage
  • Parking Available

Home Design

  • Wood Siding

Interior Spaces

  • 2,113 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Central Vacuum
  • Dual Staircase
  • Built-In Features
  • Bar
  • Beamed Ceilings
  • Ceiling Fan
  • Entryway
  • Family Room
  • Living Room
  • Bonus Room
  • White Water Ocean Views

Kitchen

  • Gas Oven
  • Six Burner Stove
  • Built-In Range
  • Microwave
  • Dishwasher
  • Kitchen Island
  • Tile Countertops
  • Disposal

Flooring

  • Wood
  • Stone

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Main Floor Bedroom
  • Fireplace in Primary Bedroom
  • Walk-In Closet
  • 3 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen

Outdoor Features

  • Property has ocean access
  • Balcony

Utilities

  • Heating Available
  • Overhead Utilities
  • High-Efficiency Water Heater
  • Sewer Paid
  • Cable TV Available

Additional Features

  • Energy-Efficient HVAC
  • Suburban Location

Listing and Financial Details

  • Legal Lot and Block 8 / 41
  • Tax Tract Number 6211
  • Assessor Parcel Number 4188014042

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Building Details

  • 2 Leased Units
  • Net Operating Income $81,480

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$29,641

Year Built

Built in 1993

Lot Details

0

Parking

5

Listing Details

  • CapRate: 3.71
  • Property Attached: No
  • View: Yes
  • Property Type: Residential Income
  • Parcel Number: 4188014042
  • Year Built: 1993
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: 2 Staircases, Bar, Beamed Ceilings, Built-in Features, Balcony, Ceiling Fan(s), Open Floorplan, Tile Counters, Vacuum Central
  • Stories: 2
  • Common Walls: No Common Walls
  • Flooring: Stone, Wood
  • Appliances: Yes
  • Fireplace Features: Master Bedroom
  • Levels: Two
  • Price Per Square Foot: 1112.16
  • Room Type: Bonus Room, Entry, Family Room, Living Room, Master Bedroom, Main Floor Bedroom, Walk-In Closet
  • Room Kitchen Features: Kitchen Island

Exterior Features

  • Direction Faces: West
  • View: Ocean, Water, White Water
  • Pool Private: No
  • Spa: No
  • Construction Materials: Wood Siding

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: Yes
  • Parking Features: Covered, Garage, Private
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Cable Available, Sewer Available, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: 6 Burner Stove, Built-In Range, Dishwasher, Disposal, Gas Oven, Gas Range, Gas Cooktop, High Efficiency Water Heater, Microwave, Refrigerator
  • Laundry Features: In Closet, In Kitchen
  • Sewer: Sewer Paid
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Suburban

Green Features

  • Efficiency: HVAC

Lot Info

  • Lot Features: Corner Lot, Sprinklers Drip System, Utilities - Overhead
  • Lot Size: 95 X 32
  • Lot Size Sq Ft: 3035.00
  • Price Per Lot Square Foot: 774.30
  • Lot Size Acres: 0.0700

Multi Family

  • Average2 Bed Area: 1262
  • Average3 Bed Area: 851
  • Gross Scheduled Income: 116400.00
  • Lot Size Area: 3035.0000 Square Feet
  • Net Operating Income: 81480.00
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Number With Drapes: 2
  • Number With Patio: 2
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Operating Expense: 32592.00
  • Other Income Description: CAP Rate & figures- PROFORMA
  • Rent Control: No
  • Total Actual Rent: 42000.00
  • Waterfront Features: Ocean Access

Tax Info

  • Tax Block: 41
  • Tax Lot: 8
  • Tax Tract Number: 6211

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 27, 2016
Closed on
Feb 25, 2016
Sold by
Chapman Paul Brian
Bought by
Hayes Scott and Hayes Rachel
Seller's Agent
Taya DiCarlo
Compass
Buyer's Agent
Suzanne Dyer
Strand Hill Properties
List Price
$2,199,000
Sold Price
$2,350,000
Premium/Discount to List
$151,000
6.87%
Current Estimated Value
$3,437,810

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,087,810
Avg. Annual Appreciation
4.02%
Original Mortgage
$1,525,000
Outstanding Balance
$1,217,750
Interest Rate
3.92%
Mortgage Type
VA
Estimated Equity
$2,220,060

Purchase Details

Closed on
Jul 14, 2009
Sold by
Chapman Paul Brian and Cross Charlotte Gevrez
Bought by
Chapman Paul Brian
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hayes Scott $2,350,000 Progressive Title
Chapman Paul Brian -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hayes Scott $1,525,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/01/2016 03/01/16 Sold $2,350,000 +6.9% $1,112 / Sq Ft
02/08/2016 02/08/16 Pending -- -- --
01/27/2016 01/27/16 For Sale $2,199,000 -- $1,041 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $29,641 $2,781,917 $2,722,731 $59,186
2024 $29,641 $2,727,371 $2,669,345 $58,026
2023 $29,027 $2,673,894 $2,617,005 $56,889
2022 $28,504 $2,621,466 $2,565,692 $55,774
2021 $27,908 $2,570,066 $2,515,385 $54,681
2020 $27,748 $2,543,714 $2,489,593 $54,121
2019 $27,174 $2,493,838 $2,440,778 $53,060
2018 $26,278 $2,444,940 $2,392,920 $52,020
2016 $3,360 $279,417 $98,149 $181,268
2015 $3,230 $275,221 $96,675 $178,546
2014 $3,116 $269,831 $94,782 $175,049
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB16017991

California Regional Multiple Listing Service (CRMLS)

APN: 4188-014-042