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$ 2,795,000
Est. payment /mo
New
1224 Corona ST Hermosa Beach, CA 90254
6 Beds
5 Baths
3,200 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,200 sqft
Price per Sqft $873
MLS Listing ID 26844081
Bedrooms 6
HOA Y/N No
Lot Size 7,692 Sqft
Property Description
FULLY OCCUPIED - SELLER WILL OFFER FLEXIBLE TERMS TO QUALIFIED BUYER - SELLER FINANCE AVAILABLE. The subject property represents a rare and highly desirable land assemblage totaling approximately 7,691 square feet in the heart of Hermosa Beach. Currently operating as a four-unit income-producing asset, the property offers investors immediate cash flow while presenting a compelling long-term redevelopment opportunity. The site benefits from a larger-than-average buildable envelope, which is uncommon for the immediate submarket and provides enhanced design flexibility for a future buyer. Based on preliminary analysis, there is a potential opportunity to develop two single family residences along with two accessory dwelling units (ADUs), allowing for a unique and versatile end use. (Buyer to verify all zoning, development standards, and feasibility with the City of Hermosa Beach.) Compared to recent land sales in the surrounding area, the property offers a significant discount on a per-lot and per-square-foot basis, particularly when considering the scale of the assemblage and its potential for creative redevelopment. This positions the asset as an attractive acquisition for both end-users seeking a generational homesite and builders targeting premium coastal product. In summary, the subject property combines current income, rare lot size, and long-term upside, making it one of the more unique opportunities available in the Hermosa Beach market.
Location
State CA
County Los Angeles
Area 150 - Hermosa Bch East
Zoning HBC3YY
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Disposal, Refrigerator
Exterior
Parking Features Uncovered
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 4185016018
Special Listing Condition Standard
Listed by Marcus & Millichap #02038545
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