NOT LISTED FOR SALE

Estimated Value: $3,744,000 - $5,343,188

5 Beds
5 Baths
3,200 Sq Ft
$1,351/Sq Ft Est. Value

Last Sold June 30, 2021

Last sale price $3,750,000 $1,172 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $26,254/month

11 Days on Market

Highlights

  • Ocean View
  • Property has ocean access
  • Multi-Level Bedroom
  • Hermosa Valley Elementary School Rated A
  • Open Floorplan
  • Great Room

About This Home

As of June 2021

This South Hermosa Sand Section Walkstreet duplex feels like a huge Single Family Residence with a 1 bedroom apartment over the garage... and it's only 3 doors from the Sun, Surf, Sand & The Strand! It will satisfy those looking to live in one unit while renting out the other, or lease both out as an investment property! Both units have their own huge ocean view rooftop balconies and share enough parking for 5 vehicles at the BEACH. The larger front unit boasts 4 bedrooms, 4 bathrooms, ~2700 sq ft, with multiple levels to satisfy the modern entertainer. Guests will love the huge front walkstreet patio and the ocean view rooftop balcony. Take the more discrete parties downstairs to the huge, unpartitioned man cave/media room with its own kitchenette. The master suite has dual closets, a spa tub, and a separate stand-up shower. The large kitchen features granite countertops with island seating opening to the dining and family rooms, a large lazy Susan pantry, a double oven, a gas cooktop, and a dishwasher. Tile and laminate floors throughout. Use the extra garage space to store bikes, boards, and other toys. Use the outdoor shower to rinse off after the beach. Don't forget - there's an immaculate 1 bedroom apartment over the garage, with its own huge rooftop deck! Youtube the address to see walkthrough videos and also click the link to the 360 tour of the front house! t.ly/IF9x

Last Agent to Sell the Property

Alex Smith

eXp Realty of California Inc License #01859768 Listed on: 05/06/2021

eXp Realty of California Inc

Last Buyer's Agent

Sally Jones

Compass License #00690964

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 2,861 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 1 Open Parking Space
  • 2 Car Garage

Home Design

  • Duplex
  • Entry on the 1st floor

Interior Spaces

  • 3,200 Sq Ft Home
  • 4-Story Property
  • Open Floorplan
  • Great Room
  • Living Room with Fireplace
  • Tile Flooring
  • Ocean Views
  • Basement

Kitchen

  • Double Oven
  • Gas Oven
  • Gas Cooktop
  • Dishwasher
  • Granite Countertops
  • Disposal

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Multi-Level Bedroom
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage

Outdoor Features

  • Property has ocean access
  • Beach Access

Utilities

  • Natural Gas Connected
  • Tankless Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 7
  • Tax Tract Number 621
  • Assessor Parcel Number 4187016027

Community Details

Overview

  • 2 Units

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $400
  • Insurance Expense $4,400
  • Professional Management Expense $7,500
  • Trash Expense $300
  • Water Sewer Expense $1,300
  • New Taxes Expense $46,875
  • Operating Expense $60,763
  • Gross Income $124,800
  • Net Operating Income $64,037

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

2

Listing Details

  • Assessments: No
  • CapRate: 1.70
  • Professional Management Expense: 7500.00
  • Property Attached: Yes
  • View: Yes
  • Water Sewer Expenses: 1300.00
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Gardener Expense: 400.00
  • Parcel Number: 4187016027
  • Year Built: 1962
  • Special Features: None

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Granite Counters, Open Floorplan, Pantry, Unfurnished
  • Stories: 4
  • Common Walls: 2+ Common Walls
  • Flooring: Tile
  • Appliances: Yes
  • Entry Level: 1
  • Fireplace Features: Living Room
  • Levels: Three Or More
  • Price Per Square Foot: 1171.88
  • Room Type: Basement, Great Room, Master Bathroom, Master Bedroom, Multi-Level Bedroom

Exterior Features

  • View: Ocean
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 3.00
  • Uncovered Spaces: 1.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Laundry: Yes
  • Appliances: Dishwasher, Double Oven, Disposal, Gas Oven, Gas Cooktop, Refrigerator, Tankless Water Heater
  • Laundry Features: In Garage
  • Sewer: Public Sewer
  • Trash Expense: 300.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 2861.00
  • Lot Size Acres: 0.0657

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 500
  • Gross Income: 124800.00
  • Gross Multiplier: 30.00
  • Gross Operating Income: 124800.00
  • Gross Scheduled Income: 124800.00
  • Insurance Expense: 4400.00
  • Lot Size Area: 2861.0000 Square Feet
  • Net Operating Income: 64037.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Number With Dishwasher: 2
  • Number With Disposal: 2
  • Number With Range: 2
  • Number With Refrigerator: 2
  • Operating Expense: 60763.00
  • Rent Control: No
  • Total Actual Rent: 10400.00
  • Total Expenses: 60763.00
  • Waterfront Features: Beach Access, Ocean Access

Tax Info

  • New Taxes Expense: 46875.00
  • Tax Lot: 7
  • Tax Tract Number: 621...

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 6, 2023
Sold by
29 6Th Street Llc
Bought by
California Coastal Commission
Current Estimated Value
$4,322,797

Purchase Details

Listed on
May 6, 2021
Closed on
Jun 30, 2021
Sold by
Lela E Holladay Family Trust
Bought by
29 6Th Street Llc
Seller's Agent
Alex Smith
eXp Realty of California Inc
Buyer's Agent
Sally Jones
Compass
List Price
$3,750,000
Sold Price
$3,750,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.19%
Original Mortgage
$2,625,000
Interest Rate
2.9%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
California Coastal Commission -- Usa National Title
29 6Th Street Llc $3,750,000 None Listed On Document
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner 29 6Th Street Llc $2,625,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/30/2021 06/30/21 Sold $3,750,000 0.0% $1,172 / Sq Ft
05/17/2021 05/17/21 Pending -- -- --
05/06/2021 05/06/21 For Sale $3,750,000 0.0% $1,172 / Sq Ft
09/21/2020 09/21/20 Rented $7,900 0.0% --
09/03/2020 09/03/20 Price Changed $7,900 -2.5% $3 / Sq Ft
08/11/2020 08/11/20 Price Changed $8,100 -4.7% $3 / Sq Ft
07/16/2020 07/16/20 For Rent $8,500 +7.6% --
11/04/2016 11/04/16 Rented $7,900 0.0% --
09/28/2016 09/28/16 Price Changed $7,900 -10.2% $2 / Sq Ft
09/12/2016 09/12/16 Price Changed $8,800 -10.2% $3 / Sq Ft
08/22/2016 08/22/16 For Rent $9,800 -- --
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 $44,060 $4,059,120 $3,517,904 $541,216
2024 $42,877 $3,979,530 $3,448,926 $530,604
2023 $41,985 $3,901,500 $3,381,300 $520,200
2022 $41,233 $3,825,000 $3,315,000 $510,000
2021 $3,221 $246,135 $122,741 $123,394
2020 $3,202 $244,257 $121,483 $122,774
2019 $3,142 $239,481 $119,101 $120,380
2018 $2,967 $230,515 $116,766 $113,749
2016 $2,795 $220,946 $112,233 $108,713
2015 $2,746 $217,629 $110,548 $107,081
2014 $2,576 $213,367 $108,383 $104,984
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB21084713

California Regional Multiple Listing Service (CRMLS)

APN: 4187-016-027