Four-Unit Income
1222 Corona St Hermosa Beach, CA 90254
1222 Corona St, Hermosa Beach, CA, 90254
$2,795,000
For Sale
$2,795,000
Fully occupied four-unit income property on a sizable land assemblage with redevelopment options for qualified buyers.
Property Size7,691 SF
Price / SF$363.41
Days on Market41
Property Features for 1222 Corona St
General Information
- Standard status
- Active
- Size
- 7,691 SF
- Property subtype
- Multifamily
Listing agency
South Bay Office
(424) 405-3855
Listed by
Jonathan Weir · License #License(s): CA: 02038545
(424) 405-3855
Source
Marcusmillichap
Added: Jun 11 Updated: Jul 10 at 1:55PM Checked: Jul 21 at 2:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of South Bay Office
Investment Insights
Based on property information with market context.
The subject property is a fully occupied four-unit income-producing asset configured as a quadplex. It is offered for sale on a larger-than-average land assemblage totaling approximately 7,691 square feet. The seller states seller finance is available and that flexible terms may be offered to qualified buyers. The site is presented with redevelopment optionality, including a possible plan for two single-family residences and two accessory dwelling units (ADUs), with all feasibility subject to buyer verification with the City of Hermosa Beach.
The property is located at 1222 Corona St in Hermosa Beach, California. The offering is marketed as a distinctive land assemblage opportunity within the immediate area, where the larger buildable envelope is described as uncommon.
For investors or end-users, the asset provides immediate in-place rental occupancy as well as an outlined path toward future reconfiguration, subject to confirmation of zoning and development standards. Buyers who value flexibility may find the combination of an operating four-unit structure and a redevelopment concept—two single-family homes plus two ADUs—useful, provided they complete their own due diligence with the city.
The property is located at 1222 Corona St in Hermosa Beach, California. The offering is marketed as a distinctive land assemblage opportunity within the immediate area, where the larger buildable envelope is described as uncommon.
For investors or end-users, the asset provides immediate in-place rental occupancy as well as an outlined path toward future reconfiguration, subject to confirmation of zoning and development standards. Buyers who value flexibility may find the combination of an operating four-unit structure and a redevelopment concept—two single-family homes plus two ADUs—useful, provided they complete their own due diligence with the city.
Key Highlights
- Fully occupied four‑unit income property on an approximately 7,691 sq ft land assemblage in Hermosa Beach
- Seller offering flexible terms to qualified buyers, with seller financing available
- Generates income as a four‑unit asset while offering redevelopment potential
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $207.7k | $27.00 |
| − Vacancy | −$15.8k | −$2.05 |
| EGI | $191.9k | $24.95 |
| − OpEx | −$57.6k | −$7.48 |
| NOI | $134.3k | $17.46 |
7,691 SF · lease $27.00/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,313 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$1.77M
$1.55M – $2.06M
NOI $123,754 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$4.12M
$3.60M – $4.80M
NOI $288,241 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully occupied four-unit income property on a sizable land assemblage with redevelopment options for qualified buyers.
Where is this quadplex located?
The property is located at 1222 Corona St Hermosa Beach, CA.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: Fully occupied four‑unit income property on an approximately 7,691 sq ft land assemblage in Hermosa Beach; Seller offering flexible terms to qualified buyers, with seller financing available; Generates income as a four‑unit asset while offering redevelopment potential
