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Contact:
justin@jrealty.org,
310-545-5269 |
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746 Monterey Blvd,
Hermosa Beach, CA 90254
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Beautiful 5 unit income property
in the heart of Hermosa Beach
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FOR SALE |
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Flyer |
746 Monterey
MLS Listing.pdf |
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Lot Dimensions |
746 Monterey Lot
Dimensions.pdf |
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Loopnet Comps |
746 Monterey Blvd
Loopnet Comps.pdf |
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Loopnet Listing |
click here |
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MLS Comps |
746 Monterey MLS
Comps 20100825.pdf |
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Units |
5 |
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Unit Description |
(4) 1 Bedroom/1 Bath
(1) 3 Bedroom/2 Bath |
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Sq Footage |
4,361 |
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Parking |
8 car garage, 1
carport, 2 driveway,
11
total spaces |
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Asking |
$2,100,000 |
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Terms |
Standard Cash to
Loan |
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View |
Panoramic, Ocean
Water View |
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Type |
Apartment |
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Gross Scheduled
Income |
$124,800 |
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Actual Rents |
$118,200 |
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Expenses/ yr |
$16,133 |
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NOI |
$104,923 |
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CapRate |
5.00% |
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Gross Mult |
17.77 |
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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.
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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 |
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GSI |
$124,800 |
| 3.00% |
Vac Allow |
$3,744 |
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EGI |
$121,056 |
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