480 Rosecrans Avenue

    Manhattan Beach, CA 90266
    • $5,950,000
    • STATUS: Active
    • ON SITE: 6 days
    • ID#: SB19032024
    New On Site 6 Days Ago
    UPDATED: 45 min ago
    $5,950,000
    • 0
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,738
      SQFT
    • $883
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1974
    County:

    School Ratings & Info

    Description

    A rare opportunity for this beautiful remodeled 8-unit (2 non-conforming) ocean view apartment building in the Sand Section of Manhattan Beach! Over $200K in improvements! Most units have been completely redone with hardwood flooring, new kitchen and bathroom cabinetry, new appliances, new plumbing, new paint plus much more. These units sparkle!! Unit make up is 5 2 bedrooms/2 Bathroom units, one 4bed/4ba unit, one 1bed/1ba and one single with full kitchen and bath. The property is situated on an over-sized street to alley double lot with 10 covered parking spaces and additional tandem parking for a total of 18 parking spaces!! Truly an extraordinary opportunity with tons of potential in income as well as future building opportunities!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-18T19:33:14.94. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.inlandempiresold.com/homes/91741286

    480 Rosecrans Avenue Manhattan Beach, CA 90266

    • Price: $5,950,000
    • Status: Active
    • Updated: 45 min ago
    • ID#: SB19032024
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    6,738
    SQFT
    $883
    $/SQFT
    1974
    Built
    Neighborhood:
    142 - Manhattan Bch Sand
    County:
    Los Angeles
    Area:
    142 - Manhattan Bch Sand
    Property Description
    A rare opportunity for this beautiful remodeled 8-unit (2 non-conforming) ocean view apartment building in the Sand Section of Manhattan Beach! Over $200K in improvements! Most units have been completely redone with hardwood flooring, new kitchen and bathroom cabinetry, new appliances, new plumbing, new paint plus much more. These units sparkle!! Unit make up is 5 2 bedrooms/2 Bathroom units, one 4bed/4ba unit, one 1bed/1ba and one single with full kitchen and bath. The property is situated on an over-sized street to alley double lot with 10 covered parking spaces and additional tandem parking for a total of 18 parking spaces!! Truly an extraordinary opportunity with tons of potential in income as well as future building opportunities!
    Exterior Features

    Carport Spaces 10.00 Garage Spaces 0.00 Lot Features Level With Street Lot Size Source Assessor Lot Size Units Square Feet Parking Features Carport Parking Total 10.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Roof Flat View OceanPeek-A-Boo View YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Individual Room

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 2.97 Community Features Sidewalks Country Us Electric Expense 1932.00 Elevation Units Feet Fuel Expense 3300.00 Gross Income 270315.00 Gross Multiplier 22.00 Gross Scheduled Income 270240.00 Insurance Expense 5063.00 Land Lease YN Yes Laundry Income 75.00 Laundry YN Yes Net Operating Income 176978.00 New Construction YN No New Taxes Expense 65450.00 Number Of Separate Electric Meters 1 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 93262.00 Professional Management Expense 14856.00 Property Sub Type Commercial/Residential Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 93262.00 Trash Expense 2376.00 Water Sewer Expense 2120.00 Water Source Public Year Built Source Assessor Zoning Mnrm-D1

    Listing provided courtesy of Carole Hansen of Engel & Volkers La-South Bay and David Salzman of


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-18T19:33:14.94. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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    Hemet CA, 92545