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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2615 Manhattan Ave Hermosa Beach, CA 90254-2411

    • Apartment buildings
    • 3,693 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    Apr 25, 2023
    $4,015,000
    Value Estimations
    $3,895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6740355
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2615 Manhattan Ave

    Year built
    1935
    Construction
    WOOD
    Lot size
    0.07 lot acres
    Property size
    3,693 SF
    Zone code
    HBC1YY
    Property type
    Apartment buildings
    APN
    4181-025-015
    APU
    4181025015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,835,000
      ML approach
      $3,775,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,835,000
      Market price range: $1.10M - $3.84M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,465,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hermosa Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.405
    Latitude
    33.8725
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $46,152
    $3,953,520
    $223,686
    $4,177,206
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $580,000
      4,361 SF

      746 Monterey Blvd, Unit 2

      APARTMENT HOUSE (5+ UNITS) • 4,361 SF
      746 Monterey Blvd, Hermosa Beach, CA 90254-4556
      View Details
    • Value Estimation
      $665,000
      5,474 SF

      36 10th St

      APARTMENT HOUSE (5+ UNITS) • 5,474 SF
      36 10th St, Hermosa Beach, CA 90254-3777
      View Details
    • Value Estimation
      $665,000
      3,696 SF

      620 Hermosa Ave

      APARTMENT HOUSE (5+ UNITS) • 3,696 SF
      620 Hermosa Ave, Hermosa Beach, CA 90254-4445
      View Details
    • Value Estimation
      $705,000
      3,450 SF

      2112 Hermosa Ave

      APARTMENT HOUSE (5+ UNITS) • 3,450 SF
      2112 Hermosa Ave, Hermosa Beach, CA 90254-2856
      View Details
    • Value Estimation
      $1,120,000
      6,078 SF

      1502 Loma Dr

      APARTMENT HOUSE (5+ UNITS) • 6,078 SF
      1502 Loma Dr, Hermosa Beach, CA 90254-2935
      View Details
    • Value Estimation
      $570,000
      4,604 SF

      1500 Manhattan Ave

      APARTMENT HOUSE (5+ UNITS) • 4,604 SF
      1500 Manhattan Ave, Hermosa Beach, CA 90254-3612
      View Details

    Similar Nearby for Sale

    • $9,300,000

      Hermosa Beach Multifamily Investment Opportunity

      Three contiguous 4-unit apartment buildings in Hermosa Beach.
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    • $3,295,000
      4,230 SF

      Hermosa Beach Six-Unit Apartment Building

      Six-unit apartment near Hermosa Beach, Pier, restaurants, and shops.
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    • $8,995,000
      3,908 SF

      Hermosa Beachfront Income Property

      Five-unit beachfront property in Hermosa Beach with excellent investment potential.
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    • $850,000
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      Condo Hotel on Hermosa Beach

      Oceanfront condo hotel offering rental income potential in Hermosa Beach.
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      Hermosa Beach Quadplex with Ocean Views

      Rare quadplex in Hermosa Beach with stunning ocean views.
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      968 SF

      Hermosa Beach Duplex Near Ocean

      Duplex in Hermosa Beach, one block from the sand.
      151 Monterey Blvd, Hermosa Beach, CA 90254
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo
      974 SF

      Hermosa Beach Condo with Amenities

      Chic 2-bedroom condo near downtown Hermosa Beach and the shoreline.
      1707 Pacific Coast Hwy, Hermosa Beach, CA 90254
      View Details
    • $6,999 /Mo
      1,900 SF

      Luxurious Townhouse with Panoramic Ocean Views

      Contemporary 3-bedroom townhouse with ocean views, available August 2025.
      931 1St St, Hermosa Beach, CA 90254
      View Details
    • $5,955 /Mo
      1,000 SF

      Remodeled Beach House with Ocean Views

      Single-level beach house near Hermosa Beach Pier with ocean views.
      40 15Th St, Hermosa Beach, CA 90254
      View Details
    • $6,950,000
      371 SF

      Office Space with Ocean Views

      Second-floor office space featuring balconies and ocean views.
      205 Pier Ave, Hermosa Beach, CA 90254
      View Details
    • Contact for pricing
      2,650 SF

      Hermosa Beach Executive Suites

      Prime Beach City Office Space
      2447 Pacific Coast Hwy, Hermosa Beach, CA 90254
      View Details
    • $37 SF/Yr
      966 SF

      Hermosa Beach Fitness Center Space

      Prime Retail Space, 966 sq ft
      1601 Pacific Coast Hwy, Hermosa Beach, CA 90254
      View Details
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    2615 Manhattan Ave
    Hermosa Beach, CA 90254-2411
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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