120 35th St, Manhattan Beach, CA 90266

120 35th St, Manhattan Beach, CA 90266

Manhattan Beach, CA

Property Description

We are proud to present this extremely rare opportunity to purchase a full lot on a walk street in the 100 block of Manhattan Beach. This property is a developer’s dream to be able to build on a north-facing lot just up from the strand. Currently, the existing building is a 2,554 SF duplex situated on a 2,707 SF lot. The front unit located on the walk street side was built in 1939 and consists of a 2-bed/1.5-bath unit. The second unit located on top of the 4-car garage was built in 1989 and consists of a 2-bed/2-bath unit. Both units are currently vacant. Do not let this opportunity pass by, as it won’t last for long!
<div><b>120 35th St, Manhattan Beach 90266</b> | <b>$4,600,000</b></div>
<li>Unit Mix: (1) 2-bed/1.5-bath, (1) 2-bed/2-bath units</li>
<li>Both units are currently vacant</li>
<li>2,554 SF of living space on a 2,707 SF full lot</li>
<li>Located in the sand section in the 100 block</li>
<li>4 Car garage</li>
<li>Amazing ocean views</li>
<li>Extremely rare development opportunity</li>

Property Features

  • Sale Price: $4,465,000
  • Area Size: 2,554 SF
  • Land Area: 2,707 SF
  • Year Built: 1939
  • Listing Date: 9/28/2020
  • Closing Date: 3/16/2021
  • Units: 2
  • Current GRM: 36.96
  • Current Cap Rate: 1.19%
  • Price Per Unit: $2,300,000
  • Market GRM: 36.96
  • Market Cap Rate: 1.19%
  • Current NOI: $54,870