1345 Manhattan Beach BlvdManhattan Beach, CA 90266

Property Details for 1345 Manhattan Beach Blvd

Year built

1967

Property size (Sq ft)

3,942 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 4-unit apartment building presents a compelling investment opportunity in the desirable East Manhattan Beach neighborhood. The property, built in 1967 and situated at 1345 Manhattan Beach Blvd, 90266, boasts a total of 3,942 square feet across one two-story building. The unit mix includes one spacious 2-bedroom, 2-bathroom townhome-style unit and three 2-bedroom, 1-bathroom units. Most major systems underwent updates several years ago. Parking is ample, with two 2-car garages providing a total of four covered spaces, plus one uncovered space. The property is zoned MNRH. Currently generating a Net Operating Income (NOI) of $125,307, it offers a solid 4.4% capitalization rate. Priced at $2,850,000 ($712,500 per unit and $722.98 per square foot), this property offers significant potential for both income generation and long-term appreciation. Its prime location near Polliwog Park, Mira Costa High School, Manhattan Beach Middle School, and Meadows Elementary School adds to its appeal. The front townhome-style unit will be delivered vacant at the close of escrow, presenting an attractive option for an owner-user. This is a rare opportunity to acquire a well-maintained multifamily property in a highly sought-after area of Manhattan Beach, California.

Location Insight

City

Manhattan Beach

County

Los Angeles

State

California

Latitude

33.8876

Longitude

-118.39

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