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

$1,699,000

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.

Investment Highlights: 

• 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 & 20.82 GRM | Pro forma 3.52% Cap & 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 Downloads

Address

  • City: Manhattan Beach
  • State/county: CA
  • Country: United States

Detail

Updated on September 12, 2019 at 3:24 pm

  • Price: $1,699,000
  • Property Size: 1,528 Sq Ft
  • Land Area: 1,348 Sq Ft
  • Garage Size: 4
  • Year Built: 1931
  • Property Type: Duplex, Multifamily
  • Property Status: Active
  • Numbers of Units: 2
  • GRM: 20.82
  • CAP RATE: 3.26%
  • Price per Unit: $874,500
  • Market GRM: 19.70
  • Market CAP RATE: 3.52%

Contact info

Johnnie Stiegler
Johnnie Stiegler
(310) 990-9685(310) 447-2213
Charlie Rasmussen
Charlie Rasmussen
(562) 241-0898(310) 404-9072
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Agent Properties

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