$7,400,000
1242 Hermosa Avenue, Hermosa Beach 90254
8,004
Lot Size
Listing Agent
Stephen Lampe - Re/Max Commercial & InvestmentLocated 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.
Facts & Features
| MLS® # | SB24045918 |
|---|---|
| Price | $7,400,000 |
| Bathrooms | 0.00 |
| Lot Size | 8,004 |
| Year Built | 1924 |
| Type | Commercial Sale |
| Sub-Type | Retail |
| Status | Active |
Community Information
| Address | 1242 Hermosa Avenue |
|---|---|
| Area | 148 - Hermosa Bch Sand |
| City | Hermosa Beach |
| County | Los Angeles |
| Zip Code | 90254 |
Amenities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Lot Description | Level, Rectangular Lot |
|---|
Additional Information
| Date Listed | March 6th, 2024 |
|---|---|
| Days on Market | 56 |
| Zoning | HBC2YY |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Stephen Lampe |
|---|---|
| Office | Re/Max Commercial & Investment |