701 Monterey Ave, Hermosa Beach

PRICE NOT DISCLOSED. CONTACT US FOR MORE INFO.

Legacy Asset first time on the market in almost 50 years, pride of ownership, strong long-term appreciation potential in supply constrained market. Irreplaceable property existing in its highest and best use as a multifamily asset with 13 units on one parcel. Significant Value-Add. +/-65% upside in existing rents with strong demand in a premier coastal rental market. Additional Upside in Potential ADU Development – 3 additional dwelling units can possibly be built within 13 garage spaces spanning across 6 two car garages and 1 single car garage to significantly increase gross scheduled income (buyer to verify). 6 off street parking spaces for additional parking. Quality Construction, meticulously maintained, new roof, balcony inspection and recommended work completed. Desirable Layouts Spacious units with storage, open kitchens
with breakfast nooks, community courtyard appeal. Tenant Demand Drivers: partial ocean views, walkable location near beaches, piers, restaurants & community  amenities.