1226 Corona Street, Hermosa Beach, California 90254, Hermosa Beach, 90254 - 6 bed, 5 bath
Loading property details...
Hermosa Beach, California 90254
This property presents a High-Potential Investment Opportunity with a List Price of $2,795,000—positioned well below the $2,870,603 Fair Market Value by 2%. This valuation gap offers $75,603 in Instant Equity. Featuring a Condition Rating of 5, the asset is a prime land assemblage for redevelopment. With a rare 7,691 sqft lot and proximity to the 10/10 rated Hermosa View Elementary, this is an ideal acquisition for Buy-and-Hold Investors or Developers targeting premium coastal product.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1226 Corona Street Subject | $2,795,000* List Price | 6 | 5 | 3,200 | $897 | - |
A 1937 Valley Drive Sold | $2,168,076 | 5 | 2 | 2,244 | $966 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property is explicitly marketed as a redevelopment opportunity and land assemblage. While currently occupied and income-producing, the structures are aged bungalows with dated interiors, basic kitchens/baths, and older systems. The primary value is in the land, and the existing improvements require significant rehab or replacement to meet modern standards.
Elementary School: Hermosa View Elementary School (10/10).
The rare 7,691 sqft lot assemblage is significantly larger than the area average, providing a unique opportunity to develop two single-family homes and two ADUs in a high-demand coastal market.
The property is a fully occupied four-unit asset providing immediate rental income, further enhanced by the seller's offer of flexible terms and seller financing to qualified buyers.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7691, other record lot size in square feet = 2320. Living area discrepancy between mls listing and other public or private record. mls listing living area = 3200, other record living area = 504.
The property lacks the ocean or panoramic views often expected at this price point in Hermosa Beach, which may limit the premium on future luxury redevelopment resale.
While the redevelopment upside is significant, the buyer must navigate complex city zoning and development standards to confirm the feasibility of the proposed multi-unit project.
FULLY OCCUPIED - SELLER WILL OFFER FLEXIBLE TERMS TO QUALIFIED BUYER - SELLER FINANCE AVAILABLE. The subject property represents a rare and highly desirable land assemblage totaling approximately 7,691 square feet in the heart of Hermosa Beach. Currently operating as a four-unit income-producing asset, the property offers investors immediate cash flow while presenting a compelling long-term redevelopment opportunity. The site benefits from a larger-than-average buildable envelope, which is uncommon for the immediate submarket and provides enhanced design flexibility for a future buyer. Based on preliminary analysis, there is a potential opportunity to develop two single family residences along with two accessory dwelling units (ADUs), allowing for a unique and versatile end use. (Buyer to verify all zoning, development standards, and feasibility with the City of Hermosa Beach.) Compared to recent land sales in the surrounding area, the property offers a significant discount on a per-lot and per-square-foot basis, particularly when considering the scale of the assemblage and its potential for creative redevelopment. This positions the asset as an attractive acquisition for both end-users seeking a generational homesite and builders targeting premium coastal product. In summary, the subject property combines current income, rare lot size, and long-term upside, making it one of the more unique opportunities available in the Hermosa Beach market.
No exterior & parking available.
Grades K-3 • 0.3 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.0 |
| Baths | 5.0 | 2.0 |
| Square foot | 3,200 | 1,596 |
| Lot Size | 7,691 | 3,622 |
| Price | $2.79M | $2.69M |
| Price per sq ft | $873 | $1.5K |
| Built year | 0 | 1938 |
| HOA | $0 | $0 |
| Days on market | 48 | 45 |
Jun 4, 2026
$2,795,000
Initial Listing
Aug 24, 2001
$635,000
Public Record
Jan 11, 2000
$450,000
Public Record
Apr 29, 1994
$255,000
Public Record