1224 Corona Street, Hermosa Beach, CA 90254

Hermosa Beach
Local realty services provided by:Nelson Shelton Real Estate ERA Powered
1224 Corona Street,Hermosa Beach, CA 90254
$2,175,000
  • 6 Beds
  • 5 Baths
  • 3,200 sq. ft.
  • Multi-family
  • Pending
Office: marcus & millichap424-405-3900
MLS#:26844081
Source:CRMLS

Price summary

  • Price:$2,175,000
  • Price per sq. ft.:$679.69

About this home

PRICE REDUCED BY $620,000! Current Income Justifies the Purchase Price - Future Development Potential Comes at a Significant Discount. This is an exceptional opportunity to acquire one of the most compelling value-add and development opportunities in Hermosa Beach. The property is now offered at an attractive $679 per square foot for the existing four income-producing units and just $282 per square foot of land, representing a land basis well below current market levels. Unlike many development opportunities where buyers pay a premium for future potential, this offering makes financial sense as a stand-alone income property while providing substantial upside through future redevelopment. Investors can acquire a stabilized four-unit asset at pricing supported by today's cash flow, while effectively securing a premier Hermosa Beach development site at a significant discount to replacement and land value. According to the City, the property may accommodate the future construction of two...

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Home facts

  • Listing ID #:26844081
  • Added:117 day(s) ago
  • Updated:October 01, 2026 at 09:03 AM

Rooms and interior

  • Bedrooms:6
  • Total bathrooms:5
  • Kitchen Description:Disposal, Refrigerator
  • Living area:3,200 sq. ft.

Heating and cooling

  • Heating:Wall Furnance

Structure and exterior

  • Building area:3,200 sq. ft.
  • Lot area:0.18 Acres
  • Levels:1 Story

Finances and disclosures

  • Price:$2,175,000
  • Price per sq. ft.:$679.69

Features and amenities

  • Appliances:Disposal

Parking

  • Parking description:Uncovered
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