Just Listed – Duplex for Sale One Block from Beach
Listed at $1,999,000 this building was built in 1931, has a GRM of 30.02, and a cap rate of 2.00%.
This highly sought-after duplex is located one block from the beach – just ten lots up from The Strand. Built in 1931, this well-maintained building has undergone various upgrades within the last year. New hardwood flooring, countertops, stainless steel appliances, etc. With 1,528 SF of total livable area, this building also features a 4-car garage and ocean views. This property is a great opportunity for an investor to acquire prime real estate in the highly sought after area of El Porto in Manhattan Beach.
● Incredible Location: West of Highland, just one block from the beach!
● Unit mix consisting of (2)1-Bed/1-Bath units
● Each unit has its own 2-car tandem garage
● Both units have been recently updated!
Manhattan Beach is an affluent suburb in southwest LA, neighboring El Segundo and Hermosa Beach. Manhattan Beach is the second most educated city in LA County and the fifth most educated city in California, according to US Census data.
Known for its clean, wide beaches, Manhattan Beach attracts more than 3.8 million visitors annually. Various paths for walking and biking include The Strand, Greenbelt, and a concrete bikeway along the beach that extends from Palos Verdes north to Santa Monica. Restrooms and showers are provided adjacent to The Strand paths to wash up after beach volleyball, bodyboarding, surfing, or swimming.
Forbes has named Manhattan Beach one of America’s most expensive areas. The Manhattan Beach real estate market outprices the Los Angeles-Long Beach-Anaheim metro average per square foot by almost 300%. The median price of homes currently listed in Manhattan Beach is $2,599,000 and values have gone up 10.2% over the past year.
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