123 40th St, Manhattan Beach, CA 90266

123 40th St, Manhattan Beach, CA 90266

Manhattan Beach, CA

Property Description

Lyon | Stahl Investment Real Estate is proud to present 123 40th St, a highly sought-after duplex located less than a block from the beach — at the bottom of 40th St. This well-maintained 1,464 SF building was built in 1987 and is situated on a 1,348 sq. ft. lot. The property has a unit mix of two (2) 2-bed/ 2-bath units. The property is currently operating at a 3.18% CAP Rate with plenty of rental upside. Just 4 lots from the Strand, this property is conveniently located along Manhattan Beach and features a 4-car garage, 2 parking spaces, and each unit has its own private balcony overlooking the beach. This property is a great opportunity for an investor to acquire prime real estate in Manhattan Beach.

Property Features

  • Sale Price: $2,137,500
  • Area Size: 1,348 SF
  • Land Area: 1,464 SF
  • Year Built: 1987
  • Listing Date: 7/3/18
  • Closing Date: 8/17/18
  • Units: 2
  • Current GRM: 20.52
  • Current Cap Rate: 3.18%
  • Price Per Unit: $997,500
  • Market GRM: 15.11
  • Market Cap Rate: 4.87%
  • Current NOI: $63,372

Lyon Stahl Investment Real Estate

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