About this home

1500 Manhattan Avenue presents a rare opportunity to acquire a six-unit multifamily property in the heart of Hermosa Beach's highly sought-after Sand Section, just moments from the beach, The Strand, and the vibrant dining, shopping, and entertainment along Pier Avenue. Situated on a 4,506 square foot lot, the property consists of six well-designed units, including one (3-Bedroom/2-Bath), two (2-Bedroom/1-Bath), one (1-Bedroom/1-Bath), and two studio units, totaling approximately 4,604 square feet of rentable building area. Offered at a 4.11% CAP Rate and 16.05 GRM after available rent increases, the property provides investors with stable in-place income and additional upside through the continued turnover of below-market rents. Upon stabilization, the asset offers a projected 4.82% Market CAP Rate and 14.82 Market GRM, providing an attractive opportunity to increase cash flow while owning a premier coastal asset. Additionally, the property is located within the California Coastal Zone, offering the potential for future short-term rental use, subject to buyer verification of all applicable regulations and permitting requirements. The property also features eight on-site parking spaces, including four carport spaces and four tandem spaces. Combined with its desirable unit mix and premier Sand Section location, the property is well-positioned to attract long-term tenants seeking a coastal lifestyle. With immediate access to Hermosa Beach Pier, The Strand, award-winning restaurants, boutique retail, and some of Southern California's most desirable beaches, 1500 Manhattan Avenue represents an exceptional opportunity to acquire a high-quality multifamily investment in one of the region's most supply-constrained and consistently appreciating coastal markets.

Facts and features

Schools

• Hermosa Valley Elementary School

  elementary · 5-8 · 0.2 mi

  8

• Fusion Academy Sb: South Bay

  middle · 6-12 · 0.3 mi

• Da Vinci RISE High

  high · 9-12 · 3.8 mi

  3

• Hermosa View Elementary School

  elementary · K-1 · 0.6 mi

• Fusion Academy South Bay

  middle · 6-12 · 0.3 mi

• Hope Chapel Academy

  elementary · K-12 · 0.6 mi

Price history

• Oct 29, 2026 · Price Changed$4,125,000
• Sep 3, 2026 · Price Changed$4,250,000
• Jul 27, 2026 · Listed$4,400,000
• Aug 21, 2014 · Listing Removed$2,695
• Jul 16, 2014 · Listed For Rent$2,695
• Nov 17, 1998 · Sold$900,000
• Jul 11, 1975 · Sold$169,000

Tax history

• 2025$22,562 tax · $1,945,314 assessed
• 2024$21,733 tax · $1,907,171 assessed
• 2023$16,254 tax · $1,356,147 assessed
• 2022$15,969 tax · $1,329,556 assessed
• 2021$15,888 tax · $1,303,487 assessed
• 2020$16,057 tax · $1,290,122 assessed
• 2019$15,435 tax · $1,264,826 assessed
• 2018$14,920 tax · $1,240,027 assessed

Home value

$4,400,597

• Quantarium$4,400,597

Where it is