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3917 Highland Avenue

Manhattan Beach, CA 90266

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Rhonda Scott
Real Estate Group
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Description

Two adjacent parcels ( 4137 010 005 and 006)being sold together 1 block above Ocean Dr between 40th and El Porto. Both parcels are mixed use zoning. Corner parcel currently has a fully functioning laundry mat with garage access on the street level on 40th street ( see listing photos). Upper levels have 3 separate residential units: Two -2 bedroom apartments leased for 2800.00 and 3800/month, and one 3 bedroom read more penthouse apt at 4500/month, all with ocean views and just a short walk to the sand. All are currently leased. Additionally there is a small studio apartment that has been a weekly rental that leases out for 1500-2000/mo. Total building sq footage is 3221. Garage enters on 40th St.
The adjacent parcel, 3917 Highland is currently an empty parking lot. Seller has a person who is interested in leasing and managing the laundry business at 16K/month + 20% of gross income rate. Business plan for the laundry could generate 80K/month. Call for more info on that. Current owner has all environmental reports and inspection reports from when he purchased the property in 2011. OWNER HAS NEARLY COMPLETED A TOTAL REMODEL OF ALL THE RESIDENTIAL UNITS. NEW PRICE REFLECTS NEW VALUE IN RENTAL RATES.

Key Details

Property Info

  • Cost: $3,800,000
  • Property Sub-Type: Commercial Sale
  • Built In: 1957
  • MLS #: NP19073532

Location

3917 Highland Avenue Manhattan Beach, CA 90266
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Agent

Rhonda Scott
Real Estate Group

Listing Providers

This listing is courtesy of the listing agent Katie Rollins (#U10380), with the office Surterre Properties Inc..
Copyright 2020 California Regional Multiple Listing Service (CRMLS). The information is being provided by California Regional Multiple Listing Service. This information is believed to be accurate but is not guaranteed Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of California Regional Multiple Listing Service. Last updated on Feb 6th, 2020.

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Rhonda Scott
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