20 22nd St
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20 22nd St
5 Unit Apartment Building $10,629,730 CAD ($2,125,946 CAD/Unit) 2.62% Cap Rate Hermosa Beach, CA 90254
Investment Highlights
- Close to Retail/Restaurants
- Close Walk to the Beach
Executive Summary
Rarely does one of the crown jewels of Hermosa Beach multifamily become available with pro forma of over $355,020 in adjusted annual gross income and $241,752 in pro forma net income (3.27% 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 vacant units D and E.
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $10,629,730 CAD | Building Class | C |
| Price Per Unit | $2,125,946 CAD | Lot Size | 0.08 AC |
| Sale Type | Investment | Building Size | 3,646 SF |
| Cap Rate | 2.62% | Average Occupancy | 60% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.92/1,000 SF |
| Price | $10,629,730 CAD |
| Price Per Unit | $2,125,946 CAD |
| Sale Type | Investment |
| Cap Rate | 2.62% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 3,646 SF |
| Average Occupancy | 60% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.92/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Range
- Built-In Bookshelves
- Family Room
- Island Kitchen
- Large Bedrooms
Site Amenities
- Gas Range
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $12,210 CAD | - |
| 2+2 | 1 | $10,055 CAD | - |
| 1+1 | 3 | $5,710 CAD | - |
Walk Score ®
Very Walkable (83)
Bike Score ®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 4182-004-008 | Total Assessment | $3,242,096 CAD |
| Land Assessment | $2,292,603 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $949,493 CAD | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
4182-004-008
Land Assessment
$2,292,603 CAD
Improvements Assessment
$949,493 CAD
Total Assessment
$3,242,096 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | HBC1* (C1 Residential) |
| HBC1* (C1 Residential) |
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20 22nd St
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