532 The Strand
Property Description
One of the few remaining full oceanfront parcels on the Hermosa Strand, producing income while you plan. 532 The Strand is a 30 x 80 oceanfront lot at 6th Court, just south of the Hermosa Pier, improved with a three unit residential income property of approximately 2,460 square feet. It carries three legal addresses (532,530 & 528 The Strand). The building works for itself today with three separate legal addresses, each with its own private outdoor space, its own kitchen and its own in-unit laundry. Two upper level one bedrooms, one facing the Strand directly and one with a double-sized deck. A beach level two bedroom, one and a half bath with updated appliances, a fireplace, and a patio opening directly onto the sand. Three garage spaces on site. For a buyer with a longer timeline, that all matters. Entitlement on the coast takes the time it takes, and this parcel is not an empty lot waiting on a permit. Occupy one unit and lease the others. Lease all three. Run furnished thirty day and longer terms. And because it is classified residential income rather than a personal residence, it can serve as replacement property in a 1031 exchange. For a buyer carrying a gain out of another investment property, that distinction is not small. Frontage on the Strand is finite. This one produces today and can evolve on your schedule.Broker Details
Chhabria Real Estate Company (310) 379-2167
MLS ID: SCHHANEI State License Number: 01821437
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $5,299,000 |
| No. of Units: | 3 |
| Year Built: | 1953 |
| Lot Size: | 2,450.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $1,766,333 |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 4 |
ID: 3yd-MRMLSCA-SB26181602
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