Residential Income in Manhattan Beach

$4,995,000

123 28th, 90266, Manhattan Beach, CA

Residential Income for sale in Manhattan Beach, 123 28th, 90266

123 28th, 90266, Manhattan Beach, CA

$4,995,000

Type: Residential Income

Description

BUILT BY ONE FAMILY. HELD FOR GENERATIONS. READY FOR ITS NEXT CHAPTER. One block from the sand! Opportunities like this don’t come in waves. This one took nearly 90 years to wash ashore. Built in 1937 and held by one family ever since (per seller), this seven-unit building sits one block from The Strand in the Sand Section of Manhattan Beach. Now offered for the first time, original blueprints included. Why it’s rare: Seven income units on a 2, 704 SF corner lot, a Sand Section offering rarely seen. Once it sells, it may not come available again for decades. What you get: Approx. 4, 862 SF (Assessor) with three 2-bedroom units, a 3-bedroom unit, two 1-bedroom units and a studio on a FULL lot. Five carport PARKING spaces. In-unit washer/dryer in 5 of 7 units (seller-owned appliances included). Separate electric, gas & water meters. White-water ocean views from four residences. Corner location at 28th St and Manhattan Ave, near The Strand, the Pier and Downtown Manhattan Beach. What it could earn: Approx. $363, 000 projected annual gross scheduled rent at renovated market rents (broker estimate), before expenses. Ideal for building a strong investment portfolio or completing a 1031 exchange. Transfer tax: Manhattan Beach is its own city, so the City of Los Angeles’ Measure ULA “Mansion Tax” does not apply under current law. Other transfer taxes may apply. Coastal Zone: Located in the California Coastal Zone. Short-term rental use subject to City licensing, TOT and applicable regulations; buyer to confirm eligibility with the City. Want more land by the sand? The home right next door at 121 28th St, held by the same family since 1926, is also offered separately for the first time in a century. Together, they total approx. 5, 400 SF of contiguous Sand Section land. Sold as-is, subject to existing tenancies except units delivered vacant. Buyer to verify all details, including zoning, permitted units, unit configurations, square footages, rental eligibility, taxes and income projections. Income not guaranteed.

Agent Information

Location

123 28th, 90266, Manhattan Beach, CA

Data

Object TypeResidential Income
Purchase Price$4,995,000
Living Space0 m²
Plot Size251.21 m²
BathroomsN/A
Construction Year1937
ConditionNot specified
RoomsN/A

Energy Information

Heating TypeNatural Gas, Wall Furnace
Primary Energy SourceN/A
Construction Year1937
Energy CertificateN/A
Final Energy DemandN/A
Certificate Valid UntilN/A
Energy Efficiency ClassN/A

Contact Agent