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$ 4,995,000
Est. payment | /mo
8 Beds
5 Baths
2,704 Sqft Lot
$ 4,995,000
Est. payment | /mo
8 Beds
5 Baths
2,704 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26224071
Bedrooms 8
Lot Size 2,704 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
BUILT BY ONE FAMILY. HELD FOR GENERATIONS. READY FOR ITS NEXT CHAPTER. One block from the sand! Opportunities like this don't come in waves. This one took nearly 90 years to wash ashore. Built in 1937 and held by one family ever since, this seven-unit building sits one block from The Strand in the Sand Section of Manhattan Beach. Now this income-producing landmark is offered for the first time, original blueprints included. Why it's rare: Seven units on a 2,704 SF coastal lot is density that's hard to replicate under today's zoning and parking standards. Once it sells, it may not become available again for decades. What you get: Approx. 4,860 SF with four 2-bedroom units, two 1-bedroom units and a studio on a FULL lot. Five PARKING spaces. Separate electric and gas meters. White-water panoramic ocean views. Corner location at 28th St and Manhattan Ave, near The Strand, the Pier and Downtown Manhattan Beach. What it could earn: Approx. $336,000 in projected annual gross rent at full market rents and occupancy, before expenses (broker estimate). Ideal for building a strong investment portfolio or completing a 1031 exchange. Transfer tax: Manhattan Beach is its own city, so the City of Los Angeles' Measure ULA "Mansion Tax" does not apply under current law. Other transfer taxes may apply. Coastal Zone: Located in the California Coastal Zone, where short-term rentals may be permitted. Buyer to confirm eligibility with the City. Want more sand? The home right next door at 121 28th St, built in 1926 and held by the same family for a century, is also offered separately for the fir
Location
State CA
County Los Angeles
Zoning Appraiser
Direction Between 28th St. and 28th Pl. on Manhattan Ave.
Interior
Fireplace No
Exterior
View Y/N No
Roof Type Composition
Building
Story 3
Level or Stories 3
Others
Senior Community No
Tax ID 4176029016
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Ashley Anderson, DRE#01934610 eXp Realty of California Inc
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