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Listing 13 out of 57
$4,695,000 For Sale

3302 Manhattan Avenue
Hermosa Beach, CA 90254

6 units | Multi Family Home
2261 sq ft - MLS# SB19063264
Property Photo
1/22

Description

Trophy Income Property with Panoramic Ocean Views! Taken down to the studs in 2017, this virtually brand new 6 unit property is ideally located in a premier north Hermosa location. Features 6 one bedroom/one bath units each with new wide plank oak flooring, new windows and doors, new cabinetry, stainless appliances and quartz counter tops, frameless glass showers with bench seat, large bedroom closet, washer and dryer, A/C, and custom window blinds. Security gates and one over-sized garage space per unit (can handle large SUV’s). Income of $21,900 per month. Short walk to beach, gym, Boccato’s Groceries, and assorted other services. Just an 8 min. walk to downtown Manhattan Beach shops and restaurants. Panoramic sand and whitewater views from upper units and two of three lower units boast great ocean views. The continued growth of nearby Silicon Beach as a world-class tech hub in the South Bay and the home-ownership barriers that high-earning-young-professionals face, the lack of competitive inventory for the super-upgraded, 1-bed product is an under-served market niche. The tenant demographic for this product is made up of young professionals who no longer want to co-habitate with friends, who seek an upscale living environment, and who want an active beach lifestyle after work and on weekends. Demand for rare units like these will continue to put upward prices on rents.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 90254
  • Year Built: 1960
  • Units: 6 units
  • # of Parking Spaces: 6.00
  • Lot Size: 2261 sq ft
  • Zoning: HBC1YY
  • Area: 148 - Hermosa Bch Sand
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 3600.00
  • Building Area Units: Square Feet
  • Cap Rate: 3.98
  • Common Walls: 2+ Common Walls
  • Community Features: Sidewalks
  • Country: US
  • Directions: Manhattan Ave and 33rd Street
  • Electric Expense: 578.00
  • Fuel Expense: 301.00
  • Garage Spaces: 6.00
  • Gross Income: 262800.00
  • Gross Multiplier: 17.78
  • Gross Scheduled Income: 264000.00
  • Insurance Expense: 2428.00
  • Laundry Features: In Closet
  • Laundry YN: Yes
  • Listing Agent License: 00855690
  • Listing Office License: 01877644
  • Lot Features: Corner Lot
  • Lot Size Area: 2259.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 3786.00
  • Net Operating Income: 187013.00
  • New Taxes Expense: 60625.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6
  • Number Of Units Leased: 6
  • Operating Expense: 69103.00
  • Property Attached YN: Yes
  • Sewer: Public Sewer
  • Total Actual Rent: 22000.00
  • Total Expenses: 69103.00
  • Trash Expense: 584.00
  • Water Sewer Expense: 801.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Stroyke Properties, Inc., Bryn Stroyke

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