21
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$2,795,000
Est. payment /mo
4 Beds
3,200 SqFt
Active
1224 Corona Street Hermosa Beach, CA 90254
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Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 3,200 sqft
Price per Sqft $873
MLS Listing ID CL26844081
Bedrooms 4
HOA Y/N No
Lot Size 7,691 Sqft
Acres 0.18
Property Sub-Type OTHER
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
Zoning HBC3YY
Interior
Heating Wall Furnace
Cooling No Air Conditioning
Fireplace No
Building
New Construction No
Others
Tax ID 4185016018
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Listed by Jonathan Weir • Marcus & Millichap
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Mike & Jules Guzzardo Team With Jenny Biczkow
Realtor | r01066846,01955798,02086289
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