126 El Porto, Manhattan Beach, CA 90266

126 El Porto, Manhattan Beach, CA 90266

Manhattan Beach, CA

Property Description

This highly demanded ocean view duplex is well-positioned to the beach, shopping, and restaurants in North Manhattan Beach. Built in 1991, the property is well-maintained and features a 30’ x 47.5’ oversized lot, (2) two-bedroom & two-bathroom units, and a 4-car garage. The top unit is meticulously updated and can be delivered fully furnished for additional $. It previously rented for $6,500/mo. as corporate housing. Each unit has its own water heater, furnace, laundry facilities, and is separately metered for gas and electricity. This turn-key investment is a great owner-user option or can easily produce a 4% return to an investor with minimal maintenance. The owner has already paid the city fees for the ongoing undergrounding of the overhead wires.

Property Features

  • Sale Price: $2,275,000
  • Area Size: 1,684 SF
  • Land Area: 1,434 SF
  • Year Built: 1991
  • Listing Date: 1/15/2021
  • Closing Date: 02/02/2021
  • Units: 2
  • Current GRM: 18.94
  • Current Cap Rate: 3.76%
  • Price Per Unit: $1,125,000
  • Market GRM: 17.05
  • Market Cap Rate: 4.33%
  • Current NOI: $84,695

Lyon Stahl Investment Real Estate

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