1224 Corona Street, Hermosa Beach, CA 90254
Los Angeles County
Key Facts
Description
FULLY OCCUPIED - SELLER WILL OFFER FLEXIBLE TERMS TO QUALIFIED BUYER - SELLER FINANCE AVAILABLE. The subject property represents a rare and highly desirable land assemblage totaling approximately 7,691 square feet in the heart of Hermosa Beach. Currently operating as a four-unit income-producing asset, the property offers investors immediate cash flow while presenting a compelling long-term redevelopment opportunity. The site benefits from a larger-than-average buildable envelope, which is uncommon for the immediate submarket and provides enhanced design flexibility for a future buyer. Based on preliminary analysis, there is a potential opportunity to develop two single family residences along with two accessory dwelling units (ADUs), allowing for a unique and versatile end use. (Buyer to verify all zoning, development standards, and feasibility with the City of Hermosa Beach.) Compared to recent land sales in the surrounding area, the property offers a significant discount on a per-lot and per-square-foot basis, particularly when considering the scale of the assemblage and its potential for creative redevelopment. This positions the asset as an attractive acquisition for both end-users seeking a generational homesite and builders targeting premium coastal product. In summary, the subject property combines current income, rare lot size, and long-term upside, making it one of the more unique opportunities available in the Hermosa Beach market.
Property Information
Property Type
Residential Income
Stories
1
Living Area
3,200 sq ft
Lot Size
0.18 acres
Zoning
HBC3YY
Days on Market
8
MLS® Listing#
26844081
Property Features
Appliances
Cooling
Heating
Financial Details
HOA
None
Parcel Number
4185016018
Directions
Corona St & Aviation Blvd
Affordability Calculator
$559,000
Estimated monthly payment
$14,876/mo
Principal $2,236,000 · Est. interest $3,119,419 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Hermosa Beach, CA
- $1,000,000
- Median Listing Price
- 55
- Median Days on Market
- 1,911
- Median Sq Ft
- $805
- Median Price / Sq Ft
- 2,398
- Active Listings
- This home’s price is 180% above the area median.
- Its price per sq ft is 9% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Hermosa Beach, CA.
Location
Points of Interest in Hermosa Beach, CA
Showing the Hermosa Beach area map.
Nearby Schools
Hermosa View Elementary School
Elementary · 0.3 mi away
Fusion Academy South Bay
School · 0.4 mi away
Our Lady of Guadalupe
School · 0.4 mi away
Hermosa Beach City School District
Elementary · 0.5 mi away
Jefferson Elementary
Elementary · 0.5 mi away
Redondo Beach Unified School
School · 0.5 mi away
Hope Chapel Academy
School · 0.6 mi away
Mira Costa High School
Secondary · 0.6 mi away
Birney Elementary School
Elementary · 0.7 mi away
Grandview Elementary School
Elementary · 0.8 mi away
Manhattan Beach Unified School District (Mbusd)
Elementary · 0.8 mi away
Montessori School of Manhattan Beach
Elementary · 0.9 mi away
Beryl Heights Elementary
Elementary · 0.9 mi away
Hermosa North School
School · 1.0 mi away
Valor Christian Academy
School · 1.0 mi away
Pennekamp Elementary School
Elementary · 1.0 mi away
Towers Elementary
Elementary · 1.0 mi away
Sand Tots Parent Participation Preschool
School · 1.2 mi away
Redondo Union High School
Secondary · 1.2 mi away
Growing Garden Preschool
School · 1.3 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 140 Wienke Way, Moss Beach, CA | $1,980,000 | 5 | — | 2,548 |
| 140 Wienke Way, Moss Beach, CA | $1,980,000 | 5 | 3 | 2,548 |
| 140 Wienke Way, Moss Beach, CA | $1,980,000 | 5 | 3 | 2,548 |
| 19251 Worchester Lane, Huntington Beach, CA | $1,999,000 | 5 | 4 | 3,323 |
| 104 Saint Joseph Avenue, Long Beach, CA | $1,999,000 | 5 | 3 | 2,946 |
| 9162 Brabham, Huntington Beach, CA | $2,050,000 | 5 | 5 | 2,810 |
Moving Cost Estimate
EXIT Agents in Hermosa Beach
Listing Courtesy: Marcus & Millichap - 4244053900
Presented by: Jonathan Weir
Licensed in the state of California.