20 22nd Street

Hermosa Beach, CA 90254

$7,400,000
Price
7
Beds
6
Baths
3,646 Sq. Ft.
$2,030 / Sq. Ft.
3,646
Sq. Ft.
$2,030
per Sq. Ft.

Description

Rarely does one of the crown jewels of Hermosa Beach multifamily become available with pro forma of over $360,000 in annual gross income and $247,752 in pro forma net income (3.35% cap rate). Just one home off the Hermosa Beach Strand, this high-end luxury 5-unit trophy asset consists of: (1) 2-Bed/2-Bath unit with an OCEAN VIEW, (1) 2-Bed/1-Bath unit that has an amazing patio and OCEAN VIEW as well as (3) 1-Bed/1-Bath units. The building features 7 parking spots, 4 of which are garage parking. This...Rarely does one of the crown jewels of Hermosa Beach multifamily become available with pro forma of over $360,000 in annual gross income and $247,752 in pro forma net income (3.35% cap rate). Just one home off the Hermosa Beach Strand, this high-end luxury 5-unit trophy asset consists of: (1) 2-Bed/2-Bath unit with an OCEAN VIEW, (1) 2-Bed/1-Bath unit that has an amazing patio and OCEAN VIEW as well as (3) 1-Bed/1-Bath units. The building features 7 parking spots, 4 of which are garage parking. This high-end luxury building offers a turnkey investment opportunity in one of the most exclusive neighborhoods within the South Bay. Currently, the 2-bed/1-bath unit and one 1-bed/1-bath units are being left vacant for the next owner. Actual financials include pro forma for each vacant unit.
  1. Listed by William Joseph • DRE #01934991 • Brokerage DRE #01929140 • Joseph Group • 310-415-4655
  2. Listed by Dunham Stewart • DRE #01006738 • Brokerage DRE #01922362 • Vista Sotheby’s International Realty

Property Details for 20 22nd Street

Architectural Style
Contemporary
View
Ocean
Parking Spaces Total
7
Private Pool
No
Cooling Type
Central Forced Air
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor
LISTING UPDATED: 12/20/2024 09:18 AM

Property Details for 20 22nd Street

StatusActive
MLS #SB24252047
Days on Market9
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
CountyLos Angeles County

Building Information for 20 22nd Street

Building/Complex20 22nd StFloor-Stories2Residences-Pet Policy-Year Built1959Building Size-

Property Information for 20 22nd Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $305,259
  • Gross Scheduled Income: $305,259
  • Vacancy Allowance: 9441
  • Net Operating Income: $193,982
  • Gross Multiplier: 20.5
  • Cap Rate: 2.62
Expense Details
  • Operating Expense: $111,277
  • New Taxes Expense: $78,533
  • Gardener Expense: $840
  • Licenses Expense: $500
  • Insurance Expense: $5,000
  • Maintenance Expense: $8,086
  • Professional Management Expense: $12,210
  • Other Expense: $1,291
  • Trash Expense: $2,315
  • Water Sewer Expense: $2,500
  • Total Expenses: $111,277
Tax / Assessment Info
  • Tax Block: 22
  • Tax Tract Number: 621...
  • Tax Census Tract: 6210.05
  • CFD/Mello-Roos Fee: $3,615
  • Tax Lot: 8
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Interior Features: 2 Staircases
  • Laundry: Yes
  • Laundry Features: Common Area, Gas & Electric Dryer Hookup, Gas Dryer Hookup, Inside
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: First floor
  • Property Condition: Turnkey, Updated/Remodeled
  • View Description: Ocean
  • Waterfront Features: Beach Access
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Green Info
  • Walk Score: 83
Land/Lot Info
  • Lot Features: 2-5 Units/Acre
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Sewer Connected
  • Electric: Sewer Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Built-In Storage
  • Parking Garage Spaces: 4
  • Carport Spaces: 3
  • Parking Features: Built-In Storage, Attached Carport
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $6,000
  • Unit Type Total Rent: $6,000
  • Unit Type Pro Forma: 8500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 8000
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,775
  • Unit Type Total Rent: $3,775
  • Unit Type Pro Forma: 4500
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,450
  • Unit Type Total Rent: $3,450
  • Unit Type Pro Forma: 4500
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Furnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 4500
  • Unit Type Type: 5
Unit Information
  • Number Of Units Leased: 3
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 5
  • Number With Range: 5
  • Number With Refrigerator: 5
  • Number With Patio: 1

Property History for 20 22nd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 20 22nd Street

Taxable ValueLand$1,596,020Additions$661,750Total$2,257,770
Tax Record2024$25,573 ($2,131 / month)
Home Facts
Total Finished SqFt3,646 SqFtAbove Grade Finished SqFt3,646 SqFtLot Size3,296 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningHBC1*CountyLOS ANGELESAPN4182-004-008

Schools near 20 22nd Street

This home is within Hermosa Beach City Elementary School District.
Rating
School
Type
Grades
Distance
Public - 5 to 8
Public - K to 2
Private - K to 12
Private - 6 to 12
Rating
School
Distance
Hermosa Valley Elementary School
Public5 to 8

Hermosa View Elementary School
PublicK to 2

Hope Chapel Academy
PrivateK to 12

Fusion Academy Sb: South Bay
Private6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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20 22nd Street is a multi-family home for sale in Hermosa Beach, CA 90254. This property was listed for sale on December 20, 2024 by Joseph Group, it's currently listed at $7,400,000. It has been on the market for a total of 9 days and was last sold on March 10, 2014. This listing's school district is Hermosa Beach City Elementary School District. Nearby schools include Hermosa Valley Elementary School, Hermosa View Elementary School and Hope Chapel Academy. 20 22nd Street is a 7-bed, 6-bath, 3,646 sqft multi-family home built in 1959.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Joseph Group, William Joseph, DRE #01934991; Vista Sotheby’s International Realty, Dunham Stewart, DRE #01006738

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.