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Tera Rench

terarenchre@gmail.com +1(262) 370-7299

$4,995,000

Est. payment - /mo

2,705 Sqft Lot

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Key Details

Property Type Other Types

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB26224071

HOA Y/N No

Year Built 1937

Lot Size 2,705 Sqft

Property Sub-Type Apartment

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 first time. Together, they total approx. 5,400 SF of contiguous Sand Section land.

Sold as-is. Buyer to verify all details, including zoning, permitted uses, rental eligibility, taxes and income projections. Income not guaranteed.

Location

State CA

County Los Angeles

Area 142 - Manhattan Bch Sand

Interior

Interior Features Ceiling Fan(s), High Ceilings, Pantry, Recessed Lighting, Storage, Unfurnished

Heating Natural Gas, Wall Furnace

Cooling None

Flooring Laminate, Tile

Fireplaces Type Family Room, Living Room

Inclusions None automatically included. Appliance inclusion negotiable per listing addendum.

Fireplace Yes

Appliance Dishwasher, Freezer, Gas Oven, Refrigerator, Water Heater

Laundry Inside

Exterior

Parking Features Concrete, Covered, Paved

Garage Spaces 5.0

Garage Description 5.0

Fence None

Pool None

Community Features Biking, Curbs, Dog Park, Fishing, Street Lights, Sidewalks

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

Waterfront Description Beach Access,Ocean Access,Ocean Side Of Freeway,Ocean Side Of Highway

View Y/N Yes

View Coastline, Ocean, Water

Roof Type Composition,Shingle

Total Parking Spaces 5

Private Pool No

Building

Lot Description 6-10 Units/Acre, Corner Lot, No Landscaping, Near Public Transit

Faces West

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Architectural Style Cape Cod, Craftsman, Custom, Traditional

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 4176029016

Energy Description 1800.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

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Listed by Ashley Anderson eXp Realty of California Inc 310-435-6633, DRE #01934610

NEARBY SCHOOL & BUSINESS

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123 28th ST Manhattan Beach, CA 90266