NOT LISTED FOR SALE

950 1st St Unit 7 Hermosa Beach, CA 90254

9 Beds
7 Baths
4,899 Sq Ft
6,742 Sq Ft Lot

Last Sold September 27, 2022

Last sale price $3,525,000 $720 Per Sq Ft

23 Days on Market

Highlights

  • Ocean View
  • 0.15 Acre Lot
  • Laundry Room
  • Hermosa View Elementary School Rated A
  • No HOA
  • Bike Trail

About This Home

As of September 2022

Incredible investment opportunity 7-Unit building w Ocean Views 9 blocks or .7 miles to world-famous beaches and a short walk to Downtown Hermosa for dining, entertainment, shopping more. Built in 1964, 2 buildings totaling 4899 sq. ft on a 6742 SF lot. Dimensions ~ 40' X 168' This Property features a 2 buildings with Five 1 bedroom 1 bath units, and Two 2 bedroom 1-bath unit. 5 units have some Ocean views. The property also includes 7 garages with storage and an on-site laundry room. The building offers strong rental upside potential in a high demand area. The building has been well kept and most tenant are long term. Given the location in a high rental demand, consistent income this building provides, this is a great opportunity to own a quality income producing asset in wonderful Hermosa Beach for any real estate investor. (not to mention possible future condo site* -buyers please confirm w city) There will be no showings or open houses. Please submit offers subject to interior inspection. We politely request that you do not disturb the tenants nor walk around the property. Any Questions please contact listing brokers. Please email offers with proof of funds and a pre-approval from the direct lender if financing needed. Sold "As-Is" & "Where-Is". Seller's choice of all services.

Last Agent to Sell the Property

Christopher Ponsonby

The Real Estate Store License #01074447 Listed on: 07/12/2022

Co-Listed By

Anabela Rossi

The Real Estate Store License #01056098

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 6,742 Sq Ft Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 7 Car Garage

Home Design

  • Apartment

Interior Spaces

  • 4,899 Sq Ft Home
  • 2-Story Property
  • Ocean Views
  • Laundry Room

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 7 Bathrooms

Utilities

  • Wall Furnace
  • Natural Gas Connected

Additional Features

  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tenant pays for all utilities, electricity, gas, telephone, water
  • Tax Lot 18
  • Tax Tract Number 18
  • Assessor Parcel Number 4166031013

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 7 Units

Amenities

  • Laundry Facilities

Recreation

  • Bike Trail

Building Details

  • 7 Leased Units
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 8 Separate Water Meters
  • Electric Expense $42
  • Insurance Expense $254
  • Water Sewer Expense $162
  • Operating Expense $1,175
  • Gross Income $11,100
  • Net Operating Income $11,100

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

7

Listing Details

  • Assessments: No
  • Inclusions: Storage shed rear of property.
  • Property Attached: Yes
  • View: Yes
  • Water Sewer Expenses: 162.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 4166031013
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 719.53

Exterior Features

  • View: Ocean
  • Pool Private: No

Garage/Parking

  • Garage Spaces: 7.00
  • Total Parking Spaces: 7.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Common Area, Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Biking, Curbs, Sidewalks, Storm Drains, Street Lights, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 6742.00
  • Lot Size Acres: 0.1548

Rental Info

  • Tenant Pays: All Utilities, Electricity, Gas, Telephone, Water

Multi Family

  • Electric Expense: 42.00
  • Gross Income: 11100.00
  • Gross Operating Income: 12275.00
  • Gross Scheduled Income: 12275.00
  • Insurance Expense: 254.00
  • Lot Size Area: 6742.0000 Square Feet
  • Net Operating Income: 11100.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 8
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 1175.00
  • Rent Control: No
  • Total Actual Rent: 12275.00
  • Total Expenses: 1175.00

Tax Info

  • Tax Lot: 18
  • Tax Tract Number: 18
  • Tax Year: 4281

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/27/2022 09/27/22 Sold $3,525,000 +0.7% $720 / Sq Ft
08/04/2022 08/04/22 Pending -- -- --
07/29/2022 07/29/22 For Sale $3,500,000 0.0% $714 / Sq Ft
07/23/2022 07/23/22 Pending -- -- --
07/12/2022 07/12/22 For Sale $3,500,000 -- $714 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Christopher Ponsonby

    Seller's Agent in 2022

    Christopher Ponsonby

    The Real Estate Store

    (310) 376-1300

    6 in this area

    23 Total Sales

    Christopher Ponsonby
    Section Image

  • A

    Seller Co-Listing Agent in 2022

    Anabela Rossi

    The Real Estate Store

    (310) 569-3340

    6 in this area

    25 Total Sales

    Anabela Rossi
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB22149898

California Regional Multiple Listing Service (CRMLS)

APN: 4186-031-013

California Los Angeles County Hermosa Beach 90254

950 1st St Unit 7, Hermosa Beach, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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