“Pink Emoji House” 216 39th St, Manhattan Beach, CA 90266

“Pink Emoji House” 216 39th St, Manhattan Beach, CA 90266

Manhattan Beach, CA

Property Description

Lyon Stahl Investment Real Estate is proud to present 216 39th St in Manhattan Beach. This charming 1,528 SF duplex is situated on a 1,348-lot with 4 garage parking spaces. Built in 1931, this property features a unit mix of (2) 1-bed/1-bath currently bringing in rental income of $7000 monthly and $84,000 annually. This property is just a short walk away from the beach and is the quintessential oceanside living experience. This is a perfect investment opportunity for anyone looking to rent out both units with very strong rent appeal or a homeowner looking to live by the ocean and rent out the other unit.

<strong>Investment Highlights: </strong>

• Unit Mix: (2) 1-Bed/1-Bath
• 1,528 SF Two-Story building on a 1,348 SF Lot
• Various upgrades within the last year
• Current 3.26% Cap &amp; 20.82 GRM | Pro forma 3.52% Cap &amp; 19.70 GRM
• 4-Car garage
• INCREDIBLE LOCATION one block from the beach
• Great opportunity for an owner-user and investor alike
• Excellent development potential

Property Features

  • Sale Price: $1,550,000
  • Area Size: 1,528 SF
  • Land Area: 1,348 SF
  • Year Built: 1931
  • Closing Date: 3/31/2020
  • Units: 2
  • Current GRM: 20.19
  • Current Cap Rate: 3.39%
  • Price Per Unit: $787,500
  • Market GRM: 19.70
  • Market Cap Rate: 4.06%

Lyon Stahl Investment Real Estate

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