John E Burge

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1502 Palm DriveHermosa Beach, CA 90254

Multi-Family · 2,088 Sq. ft. | 0.07 Acres
$1,995,000 Active

1502 Palm Drive Overview

Time on Site:
115 days
Visits:
8

1 UNIT DELIVERED VACANT! 1502 Palm Drive presents a rare 4-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 & Magic Club, Ryla, and Baja Sharkeez. The property consists of four units totaling approximately 2,088 square feet on a full 30’ x 100’ lot. The unit mix includes two studio apartments and a detached cottage with a private yard and two 1-bed/1-bath units. Significant upside in rents for an investor looking to renovate and reposition over time. Opportunities to acquire a multifamily asset with this level of walkability and proximity to the beach rarely come to market, making 1502 Palm Drive an ideal option for investors seeking a prime coastal location with clear value-add potential.

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1502 Palm Drive Facts & Features

  • Type Multi-Family
  • Sq. ft. 2,088
  • Price/Sq.ft. $955
  • Lot 0.07 Acres

Details

General

Association/HOA

  • Common Interest: None

Income/Expenses

  • Fuel Expense: 602.0
  • Gross Income: 71822.6
  • Gross Scheduled Income: 71822.6
  • Insurance Expense: 3000.0
  • Maintenance Expense: 2157.6
  • Net Operating Income: 53882.64
  • Operating Expense: 17940.0
  • Trash Expense: 543.46
  • Water Sewer Expense: 1078.0

Building Information

  • New Construction: No
  • Year Built: 1913

Location/Region

  • Country: US
  • County Or Parish: Los Angeles
  • MLS Area Major: 148 - Hermosa Bch Sand
  • Postal City: HERMOSA BEACH

Community/Development

  • Community Features: Biking,Curbs,Street Lights,Sidewalks,Water Sports

Rent/Lease Information

  • Land Lease: No
  • Tenant Pays: Electricity,Gas,Other

General Information

  • Listing Terms: Cash to New Loan
  • Parcel Number: 4183013075
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Rent Control: No
  • Senior Community: No
  • Special Listing Conditions: Standard

Interior

Parking Information

  • Garage Spaces: 2.0
  • Garage: Yes

Building Interior

  • Building Area Total: 2088.0
  • Building Area Units: Square Feet

General Information

  • Common Walls: No Common Walls
  • Entry Level: 1
  • Entry Location: 1
  • Laundry Features: Inside
  • Levels: One
  • Stories: 1
  • Stories Total: 1

Exterior

Parking Information

  • Parking Features: Assigned
  • Parking Total: 2.0

Lot Information

  • Additional Parcels: No
  • Lot Features: Yard
  • Lot Size Area: 2922.0
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 2922.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Elevation Units: Feet
  • Water Source: Public

Building Exterior/Construction

  • Property Attached: No

General Information

  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Pool Features: None
  • Pool Private: No
  • Sewer: Public Sewer

1502 Palm Drive Neighborhood

Community

90254 (Hermosa Beach) Demographics

40
Median Age
9,471
Population Density (per sq. mile)
81%
College Educated
$142,500
Estimated Median Income
4,309
Estimated Total Home Owners
4,287
Estimated Total Renters
50% / 50%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

1502 Palm Drive Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

1502 Palm Drive Market Data

Based on the last 30 days in this zip code

$3,283,666
Average List Price
$1,427
Average Price per Square Foot
15
Properties Sold
71
Average Days on Market
144
Properties for Sale
Calculations provided by Reliance Network

1502 Palm Drive History

Date Event Value Agent
5/20/2026Source: CRMLS Price Reduction
$1,995,000 -7.2%
4/28/2026Source: CRMLS Price Reduction
$2,149,500 -0.0%
4/23/2026Source: CRMLS Price Reduction
$2,149,999 -4.4%
4/20/2026Source: CRMLS Price Reduction
$2,249,999 -0.0%
3/26/2026Source: CRMLS Status Change
Active
3/19/2026Source: CRMLS Status Change
Pending
3/6/2026Source: CRMLS Added to Database
March 06, 2026
Listing provided courtesy of DOMO Real EstateRyan Bunke- MLS# SB26047833MLS ProviderContact Information: [email protected] - 310-818-7403
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