480 Rosecrans Ave, Manhattan Beach, CA 90266

480 Rosecrans Ave, Manhattan Beach, CA 90266

Manhattan Beach, CA
$5,850,000

Property Description

INVESTMENT HIGHLIGHTS

  • Rare 8-Unit Building in the Sand Section of Manhattan Beach
  • Townhome Style Units | (6) Units Equipped With Outdoor Balconies
  • 3.56% Cap | 4.58% Market Cap
  • Unit Mix: (1) 4-Bed/4-Bath, (5) 2-Bed/2-Bath, (1) 1-Bed/1-Bath (Non Conforming Permit Pending), (1) Studio (Non Conforming)
  • On-Site Laundry Space | Carport Spaces for Each Unit
  • Great Income: Generating $26,820/month

EXECUTIVE SUMMARY

Lyon Stahl is proud to present 480 Rosecrans Ave, a rare 8-unit building in the sand section of Manhattan Beach. The 8,486 SF building features (1) 4-Bed/4-Bath, (5) 2-Bed/2-Bath, (1) 1-Bed/1-Bath, and (1) Studio Units. The 1-Bed/1-Bath unit is non-conforming permit pending and the studio unit is non conforming. The building sits on a 5,886 SF lot and includes an on-site laundry space and carport spaces for each unit. The building boasts a 3.56% Cap with a 4.58% market cap and generates over $26K per month.
Located less than a half mile from the beach, 480 Rosecrans Ave is a trophy asset and rare opportunity to own commercial real estate in the coveted Beach Cities submarket.

Property Features

  • Sale Price: $5,850,000
  • Area Size: 8,486 Sq. Ft.
  • Land Area: 5,886 Sq. Ft.
  • Year Built: 1974
  • Listing Date: 10/31/2022
  • Units: 8
  • Current GRM: 18.13
  • Current Cap Rate: 3.46%
  • Price Per Unit: $731,250
  • Market GRM: 15.23
  • Market Cap Rate: 4.48%
  • Current NOI: $202,471

Lyon Stahl Investment Real Estate

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