Price Reduction – Manhattan Beach Duplex | $1,579,000

Price Reduction – Manhattan Beach Duplex  | $1,579,000

Lyon | Stahl is pleased to present 1356 Manhattan Beach Blvd, a highly sought-after market with low inventory. Currently operating 3.26% CAP with the capability of performing at 3.87% CAP simply by raising the rents to market prices, even stronger CAP rate with more significant upgrades to the units. This duplex has two garages with room to park next to the garage, also plenty of street parking directly next to units. Private deck recently re-done off upper bedroom of 4-bed/3-bath. This is an excellent investment opportunity in Manhattan Beach.

 

Listed at $1,579,000, this building was built in 1960, has a GRM of 19.13, and a cap rate of 3.26%.

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Investment Highlights:

• Beautiful corner lot duplex on Manhattan Beach Blvd
• Excellent unit mix consisting of a 4-bed/3bath and 2-bed/1bath
• Deck has been recently replaced | 2 Garages
• Each unit has a private backyard
• Washer dryer hook up in each unit
• Only a short distance from The Strand
• 4-bed/3-bath is in back off of Rowell
• 2-bed/1-bath is in front off of Manhattan Beach Blvd

 

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City Overview: 

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 over 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, body boarding, surfing, or swimming.

The Manhattan Beach Unified School District was ranked sixth best in the United States by Forbes and has test scores ranked third best in California, according to California Department of Education statistics. Mira Costa High School in Manhattan Beach is ranked in the top 1% of high schools nationally.

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 three times. 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.

Among its many public parks, Polliwog Park is the largest and most frequented and has a small lake, open-air concert amphitheater for community events, playground equipment, picnic tables, and a fenced dog exercise area. Marine Avenue Park and Live Oak Park have several lighted ball fields, basketball courts, tennis courts, and an indoor racquetball facility.
Manhattan Beach is commonly featured in pop culture such as in The Beach Boys’ song “Surfin’ U.S.A.” and TV shows like Weeds, Hannah Montana and The O.C.

County Overview:

The most heavily populated county in the country is Los Angeles County with approximately 9.9 million people, including about 1 million that live in unincorporated areas of the county. The metropolis – formed by the six neighboring counties of Los Angeles, Ventura, Kern, San Bernardino, Riverside, and Orange – is home to approximately 19 million residents. Los Angeles County is home to one of the most educated labor pools in the country and offers a labor force of more than 4.7 million, of which more than 1.5 million are college graduates. Los Angeles County has the largest population of any county in the nation, exceeded only by eight states. According to the United States Conference of Mayors, Los Angeles County boasts a GDP among the twenty largest in the world. Los Angeles County’s continued economic growth, in contrast to other areas of the state and nation, is due to its diversified economy and abundant, well-trained workforce.

● Los Angeles County is the world’s 18th largest economy.
● Los Angeles part of the “Tech Coast” and is regarded as the of the main entrepreneurial regions of the world. It has approximately 200,000 small businesses, which is twice as many small businesses as can be found in any other region of the United States.
● If Los Angeles’ five-county area were a state, it would be the fourth largest in the United States.
● Los Angeles has more than 80 stage theaters and 300 museums, more than any other U.S city.

 

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