1217 24th Street, Hermosa Beach, CA 90254

Property Description

1217–1219 24th Street is a two-unit property (1,668 SF on a 3,002 SF lot, built 1973) with one 1-bedroom / 1-bath and one 2-bedroom / 2-bath residence. Five on-site parking spaces include a two-car garage. Larger than the typical Hermosa duplex, it suits an owner who wants to live in one residence and lease the other, or an investor seeking a well-scaled, high-demand beach asset. Unit 1 (1+1) is a fully furnished, successful operating Airbnb at $3,800 per month; Unit 2 (2+2) is delivered vacant. With both units run as Airbnbs (Unit 2 at $6,500 per month), scheduled income of $123,600 implies a 5.42% cap rate and 13.75 GRM at the $1,699,000 asking price. Hermosa Beach is one of the South Bay's most enduring residential markets. This walkable coastal city is defined by the Strand, Pier Plaza, dining, shops, and everyday amenities within minutes of the sand. Limited inventory, owner-occupier interest, and year-round visitor traffic support both long-term and short-term rental strategies. With Unit 1 operating as a short-term rental, a buyer may benefit from a cost segregation and bonus depreciation strategy. Consult your tax advisor. The STR scenario offers an uncommon South Bay income profile.