1220 Manhattan Beach BlvdManhattan Beach, CA 90266

Property Details for 1220 Manhattan Beach Blvd

Year built

1957

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 4-unit apartment building presents a compelling investment opportunity in the heart of Manhattan Beach, California. Located at 1220 Manhattan Beach Blvd (APN 4167-015-008), this 1957-built Class B property sits on a 5,057 sq ft lot and boasts 100% occupancy. The property features a diverse unit mix including a luxurious 2-bed, 2-bath unit with a den and private yard (potentially suitable as an owner's unit), a 2-bed, 1-bath unit with its own private yard, and two 1-bed, 1-bath units. All units include in-unit laundry and the building offers four one-car garages. Separate gas and electric meters enhance efficiency. Currently generating a NOI of $104,237, resulting in a 4.34% cap rate, the property offers a pro-forma NOI of $125,431 and a pro-forma cap rate of 5.23%. The asking price is $2,400,000, or $600,000 per unit. This prime location offers proximity to major employment centers, transportation, and recreational amenities, ensuring strong rental demand and long-term stability within a robust and resilient market. The property's strategic positioning allows investors to capitalize on the consistent demand for housing in this highly desirable coastal community. This is more than just an investment; it's a chance to own a piece of Manhattan Beach's thriving real estate market.

Location Insight

City

Manhattan Beach

County

Los Angeles

State

California

Latitude

33.8873

Longitude

-118.393

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