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3214-3216 Manhattan Ave, Manhattan Beach, CA 90266

$5,500,000

Description

Lyon | Stahl is pleased to present 3214-3216 Manhattan Ave, a highly sought-after 4-unit building located a block from the beach. The building boasts a large living area consisting of 4,191 square feet (BOMA). There is an additional 401.9 square feet of residential common area space (building storage, laundry room, and stairs), as well as 1,624 square feet of enclosed garage space and 949 square feet of balconies and decks (BOMA). The unit mix consists of (1) 3-bed/2-bath unit and (3) 2-bed/ 2-bath units. The building features 9 garages, 1,000 square feet of private balcony space, and big ocean views from the second and third floor! There is an Immediate development opportunity to build (2) $5M townhomes with a maximum floor area of 5,945.64 square feet (buyer to verify).

 

● 4-unit apartment building located 1 block from The Strand
● Currently generates almost $20,000 in monthly rental income
● Residential living area of 4,191 SF | 402 SF of residential common area
● Excellent unit mix consisting of (1) 3-bed/2-bath and (3) 2-bed/2-bath units
● Recently repainted exterior | (3) Tandem Garages & (3) 1-Car Garages (1,624 SF total)
● 949 SF of private balconies and decks
● Potential to build two (2) townhomes on the lot
● Close proximity to restaurants and retailers

Property Downloads

Address

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

Detail

Updated on October 11, 2018 at 8:28 pm

  • Price: $5,500,000
  • List Date: 7/2/18
  • Property Size: 4,191 Sq ft
  • Land Area: 3,497 Sq ft
  • Garage Size: 9
  • Year Built: 1973
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 4
  • NOI: $173,094
  • GRM: 21.57
  • CAP RATE: 3.15%
  • Price per Unit: $1,375,000
  • Market GRM: 19.67
  • Market CAP RATE: 3.57%

Contact info

Brett Lyon
Brett Lyon
(310) 880-5328(310) 880-5328
Linkedin
Woody Stahl
Woody Stahl
(310) 880-0926(310) 880-0926
Linkedin

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