For this ground up speculative luxury 2-unit detached townhome development, we partnered once again with Gary Lane of Lane Design Build. We acquired a 1923 built triplex on March 29, 2017 for $2,00,000. The lot size of 4,243 square feet allowed us to develop two detached townhomes totaling approximately 5,500 square feet. These modern coastal plantation townhomes featured 4 bedrooms, 3.5 bathrooms and a home office, with surround views from the 3rd story as well as a rooftop deck with panoramic and ocean views. The Property is approximately 4 blocks from the beach and within easy walking distance to Downtown Hermosa Beach and local parks.
Both units were sold by September of 2020, at a total price of $5,915,000, resulting in a total return to this partnership of 35%.
