Price Reduced Listing
1226 Corona Street,Hermosa Beach, CA 90254
Hermosa Beach, CA 90254
Description
PRICE REDUCED BY $620,000! Current Income Justifies the Purchase Price - Future Development Potential Comes at a Significant Discount. This is an exceptional opportunity to acquire one of the most compelling value-add and development opportunities in Hermosa Beach. The property is now offered at an attractive $679 per square foot for the existing four income-producing units and just $282 per square foot of land, representing a land basis well below current market levels. Unlike many development opportunities where buyers pay a premium for future potential, this offering makes financial sense as a stand-alone income property while providing substantial upside through future redevelopment. Investors can acquire a stabilized four-unit asset at pricing supported by today's cash flow, while effectively securing a premier Hermosa Beach development site at a significant discount to replacement and land value. According to the City, the property may accommodate the future construction of two new single-family residences with an ADU behind each home (buyer to independently verify all development potential with the City of Hermosa Beach). This creates a rare opportunity to generate rental income while preserving the flexibility to develop immediately or capitalize on future appreciation. Whether an investor is seeking stable in-place income, a long-term land hold, or an immediate development project, the property offers multiple strategies to maximize returns. Adding to its appeal, the seller may consider seller financing, creating additional flexibility for qualified buyers. Opportunities to acquire premium Hermosa Beach land with existing income, below-market land pricing, and meaningful development upside are increasingly rare. This is a unique chance to purchase an asset that works both as a cash- flow investment today and as a deeply discounted future development opportunity.
Details
| MLS # | 26844077 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 76 |
| Listing Provided By | Marcus & Millichap | Jonathan Weir |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 5 Total |
| SQ Feet | 3,200 |
| Story(s) | 1 |
| Zoning | HBC3YY |
| Acreage | 0.18 |
| Property View | None |
Interior
| Cooling | None |
|---|---|
| Heating | Wall Furnace |
| Heating Yes / No | Yes |
| Cooling Yes / No | No |
| Furnished | Unfurnished |
| Appliances | Disposal, Refrigerator |
| Fireplace Yes / No | No |
Parking
| Parking Features | Uncovered |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Hermosa Beach |
| Zip Code | 90254 |
| Area | 150 Hermosa Bch East |
| Listing VS Median (in 90254) | |
Price: $2,175,000 low | high Med: $4,300,000 sqft: 3,200 low | high Med: 4,571 $ / sqft: $680 low | high Med: $941 On site: 76 low | high Med: 37.5 | |
Market Activity 90254
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Hermosa Beach |
| Zip Code | 90254 |
| Area | 150 Hermosa Bch East |
| Listing VS Median (in 90254) | |
Price: $2,175,000 low | high Med: $4,300,000 sqft: 3,200 low | high Med: 4,571 $ / sqft: $680 low | high Med: $941 On site: 76 low | high Med: 37.5 | |
