Manhattan Beach Coastal Income Property
Manhattan Beach, California, United States
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 3.07% 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.