20 22nd St
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20 22nd St
5 Unit Block of Flats £5,931,100 (£1,186,220/Unit) 2.62% Net Initial Yield Hermosa Beach, CA 90254
Investment Highlights
- Close to Retail/Restaurants
- Close Walk to the Beach
Executive Summary
Rarely does one of the crown jewels of Hermosa Beach multifamily become available with pro forma of over $355,020 in adjusted annual gross income and $241,752 in pro forma net income (3.27% cap rate). Just one home off the Hermosa Beach Strand, this high-end luxury 5-unit trophy asset consists of: (1) 2-Bed/2-Bath unit with an OCEAN VIEW, (1) 2-Bed/1-Bath unit that has an amazing patio and OCEAN VIEW as well as (3) 1-Bed/1-Bath units. The building features 7 parking spots, 4 of which are garage parking. This high-end luxury building offers a turnkey investment opportunity in one of the most exclusive neighborhoods within the South Bay. Currently, the 2-bed/1-bath unit and one 1-bed/1-bath units are being left vacant for the next owner. Actual financials include pro forma for vacant units D and E.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £5,931,100 | Building Class | C |
| Price Per Unit | £1,186,220 | Lot Size | 0.08 AC |
| Sale Type | Investment | Building Size | 3,646 SF |
| Net Initial Yield | 2.62% | Average Occupancy | 60% |
| No. Units | 5 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.92/1,000 SF |
| Price | £5,931,100 |
| Price Per Unit | £1,186,220 |
| Sale Type | Investment |
| Net Initial Yield | 2.62% |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 3,646 SF |
| Average Occupancy | 60% |
| Number of Floors | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.92/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Range
- Built-In Bookshelves
- Family Room
- Island Kitchen
- Large Bedrooms
Site Amenities
- Gas Range
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 1 | £6,813 | - |
| 2+2 | 1 | £5,611 | - |
| 1+1 | 3 | £3,186 | - |
Walk Score ®
Very Walkable (83)
Bike Score ®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 4182-004-008 | Total Assessment | £1,809,002 |
| Land Assessment | £1,279,210 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £529,792 | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
4182-004-008
Land Assessment
£1,279,210
Improvements Assessment
£529,792
Total Assessment
£1,809,002
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | HBC1* (C1 Residential) |
| HBC1* (C1 Residential) |
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20 22nd St
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