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Listed by Ryan Bunke • DOMO Real Estate
$ 3,749,000
Est. payment | /mo
4,460 SqFt
$ 3,749,000
Est. payment | /mo
4,460 SqFt
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 4,460 sqft
Price per Sqft $840
MLS Listing ID SB-26048379
Year Built 1936
Lot Size 5,017 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Welcome to the "Seahorse Apartments," located at 712 Manhattan Avenue - a rare value-add multifamily opportunity in one of the most desirable locations in Hermosa Beach, just moments from the ocean and Hermosa Beach Pier and the beach lifestyle that define the South Bay.
The property consists of 12 units: six one-bedroom units and six studios, offering a strong mix in an unbeatable coastal setting. Current rents are estimated at roughly 50% of market, creating substantial upside for an investor looking to renovate and reposition the property over time.
Opportunities of this scale in Hermosa Beach are extremely limited: only 4 other properties with more than 10 units have sold on the market in the past decade. At well under $350,000 per unit and situated only two blocks from the Hermosa Pier, 712 Manhattan Avenue represents an unparalleled chance to acquire a larger multifamily asset in a premier beach community with clear value-add potential and long-term investment appeal.
The property consists of 12 units: six one-bedroom units and six studios, offering a strong mix in an unbeatable coastal setting. Current rents are estimated at roughly 50% of market, creating substantial upside for an investor looking to renovate and reposition the property over time.
Opportunities of this scale in Hermosa Beach are extremely limited: only 4 other properties with more than 10 units have sold on the market in the past decade. At well under $350,000 per unit and situated only two blocks from the Hermosa Pier, 712 Manhattan Avenue represents an unparalleled chance to acquire a larger multifamily asset in a premier beach community with clear value-add potential and long-term investment appeal.
Location
State CA
County Los Angeles
Area 148 - Hermosa Beach Sand
Interior
Heating Floor Furnace
Laundry None
Exterior
Parking Features None
Pool None
Community Features Biking, Sidewalks, Street Lights, Watersports
Building
Lot Description Rectangular Lot
Sewer Public Sewer
Others
Virtual Tour https://my.matterport.com/show/?m=9GNULcgYuwm
Nearby Locations
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Marissa Buss & Danny Lampert
Lic# 01770909 | 01834114