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Welcome to 1836 The Strand, an exceptional beachfront 5-unit property located in highly sought-after North Hermosa Beach. Very rarely does one encounter an opportunity to acquire a “to the studs” fully remodeled property spanning 3,908 sq.ft., 11 bedrooms and 7 bathrooms, under $10M on this prime stretch of The Strand. Fully renovated from top to bottom, this property showcases meticulous attention to detail, including all visible elements, plumbing, electrical and more. <br />
Grandfathered beyond current building restrictions, this property stands taller and wider than what is now permitted for new construction, offering uniquely breathtaking ocean views from four of the five units. Wake up to the soothing rhythm of the waves and panoramic ocean views stretching from Malibu to Catalina Island.<br />
Unmatched in its prime location, 1836 The Strand provides the epitome of the Southern California beachfront lifestyle, ideally located between the Pier with its vibrant restaurants, shops, and cafes, and 22nd Street with iconic Martha’s Cafe and the Bottle Inn. <br />
This remarkable income property offers excellent investment potential, offered under $2M per unit—well below Hermosa Strand condo values, and generating a gross scheduled income of $412,272 with a favorable Gross Rent Multiplier (GRM) of 24. For context, the neighboring 3,750 sq. ft. home on a 2,410 sq. ft. lot sold last year for $14.25M, highlighting the exceptional value of this offering. <br />
Options abound… Retain the penthouse as your private beachfront retreat, offer guest accommodations for family and friends, and maximize rental income from the remaining units. This beachfront gem ranks with a high score of 84 on WalkScore.com, and offers easy access to renowned schools, freeways, and numerous local destinations like LAX, Santa Monica and downtown LA.<br />
1836 The Strand is a one-of-a-kind property that rarely graces the market. Its versatility, stunning views, and unmatched location make it an irresistible opportunity for discerning buyers, investors, or those seeking a luxurious family beach compound. For investors looking to expand their Strand portfolio, additional off-market properties may be available as part of a larger acquisition. Inquire for details, and don’t miss this chance to own a piece of the coveted Strand lifestyle. |
