1220 Manhattan Avenue , Manhattan Beach, California 90266$4,999,000 (Sold At) $6,060,000
Generational investment opportunity one block north of the Pier in the Manhattan Beach sand section.
The first time available in over 20 years, this irreplaceable walk-street apartment building consists of 6 large one bedroom, one bathroom units (approx. 800 SF each) along with 6 garages. With rents approximately 30% below market, this opportunity will not only provide an investor with upside in rents, but also a great hedge against inflation in this excellent rental market, which consistently enjoys low vacancy and turnover rates.
This pride of ownership Property has been well maintained and includes a common area outdoor patio. Set on a highly desirable walk street lot in a prime section of Manhattan Beach, it is located only two blocks from The Strand and one block from Downtown dining and shopping.
This is truly an extraordinarily unique asset in a highly attractive area offering an investor long term stable income, as well as the opportunity to add additional value via a thoughtful upgrade of the Property.
Property Type Investment, Residential
Property Status: Sold
Property Features Garage, Ocean Views, Vaulted Ceilings
1220 Manhattan Avenue , Manhattan Beach, California 90266
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