JRealty Real Estate Services
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 Tenants     Pay On-line     Español
Contact: justin@jrealty.org, 310-545-5269
746 Monterey Blvd, Hermosa Beach, CA 90254
Beautiful 5 unit income property in the heart of Hermosa Beach
FOR SALE    
Flyer 746 Monterey MLS Listing.pdf
Lot Dimensions  746 Monterey Lot Dimensions.pdf 
Loopnet Comps 746 Monterey Blvd Loopnet Comps.pdf
Loopnet Listing click here
MLS Comps 746 Monterey MLS Comps 20100825.pdf 
Units 5
Unit Description (4) 1 Bedroom/1 Bath
(1) 3 Bedroom/2 Bath
Sq Footage 4,361
Parking 8 car garage, 1 carport, 2 driveway, 11 total spaces
Asking $2,100,000
Terms Standard Cash to Loan
View Panoramic, Ocean Water View
Type  Apartment
Gross Scheduled Income $124,800
Actual Rents $118,200
Expenses/ yr $16,133
NOI $104,923
CapRate 5.00%
Gross Mult 17.77
Details

This five unit multifamily property features 4 1-bedroom units and one 3-bedroom units. The four 1-bd units are approximately 775 sq ft and the 2-bd is about 1,250 sq ft. Most rents are currently below market, there is opportunity to increase rents to increase the annual gross revenue by approximately $7k. There is also opportunity for coin-operated laundry machines—the current laundry area operates free for the tenants. Estimated laundry revenue potential is about $1,500 annually. The property also features 8 garaged parking spots and 11 total parking spaces.  The tenants are very stable and the units are highly desirable.  The views from the rooftop deck are absolutely stunning—there is a panoramic view of the south bay to the west and a nice view of the trees and houses to the east. Extensive termite treatment has recently been completed. Great location, about 0.2 miles from the beach and very close to the shops & restaurants at the pier.   This street has undergone extensive re-vitalization and the entire downtown area has benefited.

Unit # Type Proforma Actual Type
1 1 bd 1 ba $1,775 $1,650 MTM
2 3 bd 2 ba $3,300 $3,000 MTM
3 1 bd 1 ba $1,775 Vacant Vacant
4 1 bd 1 ba $1,775 $1,750 1 yr
5 1 bd 1 ba $1,775 $1,675 MTM

GSI $124,800
3.00% Vac Allow $3,744
EGI $121,056
OE $16,133
NOI $104,923
CapRate 5.00%
GRM 17.77
 

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