My deal of the week is 477 25th St. Hermosa Beach, CA 90254 ( listing with Shorewood Realtors, Ed Kaminsky).  This is a “Fixer” close to the beach, close to Hermosa Valley Park, close to Hermosa Valley School, short walk to Martha’s (my favorite Hermosa breakfast place).  It won’t appeal to everyone, it is a duplex and it does need a lot of work, what I do like about it is that it gives you a lot to work with as a potential buyer looking to live in a nice spot of Hermosa Beach.  Depending on your financial situation you can fix it up, jack the rents and hold it for a while until you are ready to build your dream home.  You could also fix it up, rent it out and let it appreciate.  Another option would be to tear it down and build right away and capitalize on the large 4,000+ square foot lot you get, the sweeping valley views, the possible ocean views and the great southern sun exposure that would keep a new house light and bright!

The Price is  $1,099,000 and you get 2 separate units both 2 bedrooms 2 baths. The rear unit is significantly large than the front.  The property sits on a double corner giving you only one neighbor with lots of light and great potential curb appeal. 

This one will not last because of its location, size and attractive price for the area.

Sorry no picture.  Below is the public notes on the property.

Incredible opportunity for a builder, contractor or talented do-it-yourselfer.
DO NOT DISTURB TENANT they are NOT aware its for sale and seller wants to keep it that way. That means a great opportunity for someone.  The zoning likely is for a new single family home or just fix up the place and keep it for a while then build,or live in one unit and rent the other. One of the most sought after Hermosa locations over looking the Valley yet close enough to the beach to walk and there might end up being an ocean view if you build up. No guarantees but it looks possible. The front house is older built in 1929 and is about 880 sqft and the back house was built in 1971 and is approx. 1200 sqft. Per the seller the rents are way below market. One tenant has lived in the property for 15 years without a rent increase. The tenants pay for everything except taxes and insurance.

Tags: Deal of the Week, hermosa beach, real estate

This entry was posted on Wednesday, February 13th, 2008 at 3:02 pm and is filed under Deal of the Week, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.