Property Detail

Description

The perfect investment opportunity for the astute, creative, and entrepreneurial buyer seeking to own exceptional coastal real estate and put their signature on a future high performing asset. Off market for more than 40 years, this rare 12 unit multifamily offering sits just blocks from the sand, The Strand, Hermosa Beach Pier, and the shops, restaurants, and nightlife along Pier Avenue in one of Southern California's most desirable and tightly held rental markets. Built in 1924, the property consists entirely of one bedroom units, several with ocean views, walk in closets, newer windows, and upgraded kitchens. One standout residence features an unusually large bonus family room a unique floor plan with meaningful rental upside. Residents enjoy a paver lined courtyard, outdoor space on both sides of the building, two single car garages, an additional parking space, and on site laundry.The operational advantage here is extraordinary: 10 of the 12 units are currently vacant, allowing a new owner to begin renovation and repositioning immediately no waiting for turnover. Ownership has already completed major behind the walls improvements, including updated plumbing and electrical systems with new main and sub panels, significantly reducing near term capital needs and enabling a buyer to focus on income optimization. A recent landmark court ruling struck down Hermosa Beach's short term rental ban in the coastal zone, and the City has opted not to appeal opening a pathway for registration and taxation of short term rentals citywide. This unlocks multiple strategies: traditional long term lease up, nightly STR operations, or a blended model with diversified income streams. (Buyer to independently verify STR regulations, permitting, and feasibility.) Beach close, largely vacant, capital improved, and full of optionality, 1644 Monterey Boulevard is a once in a generation opportunity to acquire and elevate a trophy coastal asset in one of the South Bay's highest barrier to entry communities.