Just Listed – “Pink Emoji” Duplex in Manhattan Beach
Johnnie Stiegler of Lyon | Stahl is pleased to present 216 39th St, a charming duplex in Manhattan Beach!
This property is listed for $1,749,000
This charming 1,528 SF duplex is situated on a 1,348-lot with 4 garage parking spaces. Built in 1931, this property features a unit mix of (2) 1-bed/1-bath currently bringing in rental income of $7000 monthly and $84,000 annually. This property is just a short walk away from the beach and is the quintessential oceanside living experience. This is a perfect investment opportunity for anyone looking to rent out both units with very strong rent appeal or a homeowner looking to live by the ocean and rent out the other unit.
Manhattan Beach is a real-deal beach community and is one of three Beach Cities in the South Bay region of Los Angeles bordered by Redondo Beach, Hermosa Beach, Hawthorne, and El Segundo. The main attraction to the city is the strand of beach stretching from El Porto down to Hermosa Beach. The 2 mile Strand is filled with great shops, amazing restaurants and infinite activities peppered along Manhattan Beach Blvd.
Much of Manhattan Beach’s lifestyle is influenced by its sister cities: Redondo Beach and Hermosa Beach. The city maintains permanent beach volleyball nets year-round and hosts the Manhattan Beach Open Volleyball Tournament every August. Surfing is another essential lifestyle as the city hosts the International Surf Festival year – round.
Properties in Manhattan Beach within walking distance of the Pacific Ocean routinely sell for above-average prices. The median price of homes listed in the Manhattan Beach real estate market is currently $2,850,000 but home values have gone down 2% since August 2018 due to the hyper supply phase of the real estate cycle.
• Unit Mix: (2) 1-Bed/1-Bath
• 1,528 SF Two-Story building on a 1,348 SF Lot
• Various upgrades within the last year
• Current 3.26% Cap & 20.82 GRM | Pro forma 3.52% Cap & 19.70 GRM
• 4-Car garage
• INCREDIBLE LOCATION one block from the beach
• Great opportunity for an owner-user and investor alike
• Excellent development potential
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