$1,995,000
-$154,5001502 Palm Drive, Hermosa Beach CA 90254
Multi-Family (5 Units)
Property type
91 days
On market
$955
Price per sqft
2 cars
Garage
1913
Year built
2,922 sqft
Lot size
Open Houses
Overview
1 UNIT DELIVERED VACANT! 1502 Palm Drive presents a rare 5-unit value-add multifamily opportunity in an A+ Hermosa Beach location just one block from the Strand and Noble Park. Tucked right around the corner from downtown Hermosa, the property enjoys a 97 “Walker’s Paradise” Walk Score with easy access to some of the area’s most popular local spots including the The Comedy &...
Listing provided by: Ryan Bunke DRE #02083042 310-386-1723, DOMO Real Estate, Greg Geilman DRE #01788567 310-251-7725, DOMO Real Estate
Listing updated: May 21, 2026 at 01:38am.
Last checked: Jun 5, 2026 at 09:30am
Source: CRMLS #SB26047833
Multi-family Analysis
Unit Information
| Units | Beds | Baths | Garage | Actual Rent | Total Rent | Pro Forma | Furnished? |
|---|---|---|---|---|---|---|---|
| 1 | 0 | 1 | — | $1,511 | $1,511 | $2,500 | Unfurnished |
| 1 | 0 | 1 | — | $835 | $835 | $2,500 | Unfurnished |
| 1 | 0 | 1 | — | $1,699 | $1,699 | $2,500 | Unfurnished |
| 1 | 1 | 1 | — | $1,246 | $1,246 | $4,000 | Unfurnished |
| 1 | 1 | 1 | — | $1,529 | $1,529 | $4,000 | Unfurnished |
# of Buildings: 2
# of Units Total: 5
Separate Electric Meters: 3
Separate Gas Meters: 3
Separate Water Meters: 1
Rent Control: No
Units Leased: 5
Total Actual Rent: $6,820
Tenant Pays: Electricity, Gas, Other
Financial Snapshot
Gross Rent Multiplier
24.4x
List Price / Annual Gross Rent
Cap Rate
3.2%
NOI / List Price
Gross Scheduled Income: $81,843
Operating Expense: $17,940
Net Operating Income: $63,903
Annual Operating Expenses
Electric: $0
Fuel: $602
Insurance: $3,000
Licenses: $372
Maintenance: $2,158
Pest Control: $593
Professional Management: $3,800
Trash: $543
Water / Sewer: $1,078
Interior
Cooling: None
Laundry: Inside
Entry Location: 1
Exterior
Property Attached: No
Stories Total: 1
Levels: One
Common Walls: No Common Walls
Lot Features: Yard
Pool: None
Water Source: Public
Sewer: Public Sewer
Garage and Parking
Parking: Assigned
Garage Spaces: 2
Parking Total: 2
Lot Information
Land Lease: No
Common Interest: None
Parcel #: 4183013075
Additional Parcels: No
Tax Lot: 19
Community
Senior Community: No
Community Features: Biking, Curbs, Street Lights, Sidewalks, Water Sports
Nearby Schools
Nearby schools around the 1502 Palm Drive, Hermosa Beach, CA 90254. Contact the school or district directly to verify enrollment eligibility.
Payment Calculator
Total Principal
$1,596,000
Total Interest
$2,035,610
Total Payment
$3,631,610
Payoff Date
Jun 2056
PMI is disabled automatically when your down payment is 20% or more.
Est. Payment
$12,316
per month
Property History for 1502 Palm Drive
Hermosa Beach Market Snapshot
Market stats compare this property with recent MLS activity for similar property types in 90254.
Similar Homes
Listings with similar prices to 1502 Palm Drive