2208 The Strand, Manhattan Beach, CA 90266

$14,350,000
List Price
$14,350,000
Status
ACTIVE
MLS#
SB23091731
Year Built
1972
Lot Size
3,512
Acres
0.08
Lot Location
StreetLevel
Days on Market
16
Property Type
Multifamily
Property Sub Type
Quadruplex
Stories
Three Or More Levels

Property Description

Introducing 2208 The Strand, an extraordinary trophy income property nestled in the heart of Manhattan Beach. This remarkable four-unit building presents a rare opportunity to own a slice of coastal paradise on one of Southern California's most coveted coastlines, at approximately $3.5M per unit. Spanning a combined 5,193 sq. ft., this beachfront Strand property offers a total of 9 beds and 8 baths across its 3 x 2-bed, 2-bath units and 1 x 3-bed, 2-bath unit. With complete interior and exterior rehabilitation, this property exemplifies luxury living. Each unit boasts panoramic ocean views, allowing residents to soak in the beauty of the Pacific from Palos Verdes to Malibu. With each unit occupying its own floor and no shared walls, privacy and tranquility are assured. The sleek design features smooth coat stucco and Fleetwood glass doors, seamlessly merging contemporary style with the coastal ambiance. In addition to the stunning interiors, the property offers 9 garage parking spaces and laundry facilities, ensuring convenience for residents. The current gross rents of $36,529 per month or $438,348 per year demonstrate the lucrative rental potential of this prime Strand property, with a 33 GRM and pro-forma upside to an impressive 23 GRM and 3.00% cap rate. This centrally located property offers a wealth of options. Whether you choose to live in the owner's unit and rent out the others or maximize the rental income throughout the entire building, this versatile investment provides endless possibilities. Situated within easy access to the beach, downtown Manhattan Beach, and the amenities of North Manhattan, residents can savor the best of coastal living. Don't miss this once-in-a-lifetime opportunity to own a coveted multi-unit building on The Strand. Seller may consider financing at a low 3.5% interest rate. Contact us today to seize this unparalleled investment opportunity.

Additional Information

Appliances
Gas Cooktop, Gas Oven, Water Heater
Pool Description
None
Fireplace Description
Living Room
Heat
Wall Furnace
Cooling Description
None
View
Catalina, Coastline, Ocean, Panoramic, Pier, Water
Roof
Flat
Garage Spaces Total
9
Sewer
Public Sewer
Water
Public
Interior Features
Balcony
Attached Structure
Detached
Number Of Units Total
4
Gross Scheduled Income
$438,348
Operating Expense
181447

Listing courtesy of Listing Agent: Shawn Dugan (manonthestrand@gmail.com) from Listing Office: Strand Hill Properties.

Mortgage Calculator

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.