Town Homes | Two Unit Beachside Investment

Hermosa Beach (945 15th St.)

Summary

Beach City Capital is pleased to present the development of two townhomes located at 945 15th Street, Hermosa Beach, CA (the “Project”).

The development includes two 3,200 sf ocean view townhomes, each with two car garages, a grand living space on upper level to take advantage of the ocean view, and a roof top terrace.

The Project benefits from Hermosa’s accredited high schools, beautiful beaches, affluent demographic, and new family dynamic in the South Bay. The Sponsor entered a JV land partnership with the existing owner, which highly benefited the economics of the Entitlement Period.

Site Context

Located in the heart of the South Bay Beach Communities, Hermosa Beach is bordered by Manhattan Beach to the North and Redondo Beach to the Southeast. Hermosa Beach is a world class beach destination with high residential demand. The local culture is vibrant, family oriented and enjoys many beach activities. With bike paths connecting to Santa Monica, local music venues, farmer markets and the popular Hermosa Pier known for its shopping, dining and annual street fairs, Hermosa Beach offers a laid-back and casual lifestyle and is a destination spot for many tourists. The Hermosa Pier affords great views and is an ideal area for local fishing.

The Stand, which is a paved beachfront sidewalk, offers a place for bicyclists, runners, skateboarders, rollerbladers and walkers. On Pier Avenue, there are elegant boutique shops conveniently located for a sunny day out!

Project Overview

  • Steeply Discounted Basis:

Beach City Capital acquired an underutilized lot in Hermosa Beach for $318 psf, in a high demand area where land is scarce and demand is high. We were able to locate this property off-market through personal relationships.

  • Streamlined Process:

Beach City Capital constructed a by-right development project with no zone changes required. We took advantage of the lot and location, and worked with city planning to design an extraordinary project.

  • Construction/Sale Management:

Beach city has leveraged industry knowledge, experience and technology to monitor, report on and manage the delivery of this project from construction to disposition.

  • Exit:

List is with the most respected local Real Estate Brokerage firm, Beach City Brokers.

 

Investment Deal Points

Commercial Financing

Beach City Capital acquired the land through a JV partnership.

Entitlement & Construction

Beach City Capital has completed this two-unit luxury townhome and it is now on the market. If you’re interested in checking out the listing, please view below.

For Sale Information

To check out the listing for 945 15th Street, please: Click Here

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