Updated Oct 29, 2024
Hermosa Beach Home Sells For Record-Breaking $19.5 Million
2666 The Strand Hermosa Beach, California 90254, USA
$19,500,000
$2,785/SF
Building Size
7,000 SF
Asset Type
Single Family Residence
Closing
Jun 26, 2023
About this deal
AI
The record-breaking real estate market in Hermosa Beach, CA, has just witnessed another historic sale. 2666 The Strand, a stunning 7,000-square-foot beachfront residence, was recently sold for an impressive $19.5 million. The property's sale price of $2,786 per square foot reflects the rising prices in Hermosa Beach, which now rival its neighbor, Manhattan Beach.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $19,500,000
- Square Footage: 7,000
- Price per Square Foot: $2,786
- Address: 2666 The Strand
- Market: Hermosa Beach
This significant transaction was facilitated by the buyer's representative, Coby McDonald from Compass, and the seller's representative, Robb Stroyke from Bayside Real Estate Partners. The buyer, a local businessperson, recognized the value of this property and seized the opportunity to invest in it. The sale of 2666 The Strand not only sets a new record for Hermosa Beach but also highlights the growing demand and increasing prices in this prestigious coastal community.
Hermosa Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.8K per square foot on a published $19.5M for 7,000 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93