REO Bank foreclosure with potential for ocean view development. The subject property is a vacant lot that was previously entitled for a 3 story, 19,443 square foot condo development project with 32 office units and two retail stores. The 2006 cost basis of the land was originally $4,100,000. Commercially zoned parcels with such close proximity to the beach rarely become available. The zoning allows broad commercial uses as well as hotel development. Multi-residential or residential uses are not permitted. Call for MARKETING PACKAGE FOR ALL DETAILS. Hermosa Beach is densely populated with 20,000 residents within 1.3 square miles . Strong demographics with average Household income in excess of $100,000 per year. One block from pedestrian oriented Pier Avenue which serves as Main Street and the Hermosa Pier. Broad commercial zoning allows for a variety of commercial uses. Vacant lot with all utilities onsite.
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