18 4th Street
About This Property
Located south of the iconic Hermosa Beach Pier, this beautiful home was designed by renowned architect Pat Killen, known for bringing his modern, progressive design to the landscape of the Beach Cities. The home offers three bedrooms, two and a half baths, a 3-stop elevator, a large rooftop deck with views from Palos Verdes to Malibu, and appx. 40 feet of prime walk street patio frontage - adding appx. 1,000 sq.ft. of usable patio space.
The top floor is graced with an abundance of natural light and ocean views, with an open concept living and dining, a bright kitchen featuring Saltillo tile flooring and recessed lighting throughout. A bold feature of the living room is a modern gas fireplace with a custom concrete mantle and the dining area defined with a dramatic tray ceiling. This level is perfect for entertaining with a balcony to enjoy the ocean breeze, morning coffee and sunset cocktails, access to the large roof top deck and a powder room with skylight. Three bedrooms and two bathrooms are conveniently located on the second floor where the impressive views continue. The primary bedroom has two walk-in closets and a large en-suite bathroom with a jacuzzi tub. As you enter on the first floor the large foyer leads to a staircase upstairs, has access to the spacious laundry room, three-stop elevator and attached 2 car garage plus additional designated parking.
All three bathrooms have been remodeled in a modern design to match the light and bright vibe of the home. There is also has the possibility of adding usable square footage within the current footprint. The large front yard opens up to the walk street which provides a perfect place for outdoor dining and relaxing. This spectacular home provides a unique opportunity to live beachside in true elegance in magical Hermosa Beach.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 16, 2024 | Sold | ||
| Sold | |||
| Nov 4, 2024 | In contract | - | |
| In contract | |||
| Aug 20, 2024 | Listed by Strand Hill Properties | $5,290,000 | |
| Listed by Strand Hill Properties | |||
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About Hermosa Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017