Property Detail

Description

One of the few remaining full oceanfront parcels on the Hermosa Strand, producing income while you plan your vision. 532 The Strand is a 30 x 80 oceanfront lot at 6th Court, just south of the Hermosa Pier, improved with a three unit residential income property of approximately 2,450 square feet. It carries three legal addresses (532,530 & 528 The Strand). The building works for itself today with three separate legal addresses, each with its own private outdoor space, its own kitchen and its own in-unit laundry. Two (2) upper level one bedrooms, one facing the Strand directly and one with a double-sized deck. And a beach level two bedroom, one and a half bath with updated appliances, a fireplace, and a patio opening directly onto the sand. Three garage spaces on site. For a buyer with a longer timeline, entitlement on the coast takes the time it takes, and this parcel is not an empty lot waiting on a permit. Occupy one unit and lease the others. Lease all three. Run furnished thirty day and longer terms: the point is, there's options. And because it is classified residential income rather than a personal residence, it can serve as replacement property in a 1031 exchange. For a buyer carrying a gain out of another investment property, that is conversation worth having with a trusted CPA to determine options. The bottom line is: frontage on the Strand is finite. This is one to look more closely at because it produces today and can evolve on your schedule.