Multifamily
1222 Corona St
1222 Corona St, Hermosa Beach, CA 90254
Listing Price: $2,795,000
Investment Overview
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.
Investment Highlights
- Rare 7,691 SF Land Assemblage — Significantly larger than typical Hermosa Beach lot sizes, providing scale and flexibility rarely available in the market
- Currently Operating 4-Unit Investment Property — In-place income allows for a covered hold while planning future redevelopment
- Potential to Develop Two SFRs + Two ADUs — Unique opportunity to maximize utility of the site with multiple structures (Buyer to verify all development potential)
- Below-Market Land Basis — Pricing reflects a discounted per-square-foot and per-lot valuation relative to recent comparable land sales
Exclusively Listed By
Listing Price: $2,795,000
Investment Highlights
- Rare 7,691 SF Land Assemblage — Significantly larger than typical Hermosa Beach lot sizes, providing scale and flexibility rarely available in the market
- Currently Operating 4-Unit Investment Property — In-place income allows for a covered hold while planning future redevelopment
- Potential to Develop Two SFRs + Two ADUs — Unique opportunity to maximize utility of the site with multiple structures (Buyer to verify all development potential)
- Below-Market Land Basis — Pricing reflects a discounted per-square-foot and per-lot valuation relative to recent comparable land sales
Investment Overview
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.
Exclusively Listed By