3901 Highland Avenue, Manhattan Beach, CA 90266 (MLS # PW24057517)
3901 Highland Ave is a trophy asset situated in the sand section of Manhattan Beach in El Porto. The property currently consists of 14 units with a beautiful courtyard and ocean views from multiple units and the outside decks. The current 9,466 SF building sits on a 6,621 SF lot west of Highland Ave providing easy access to the beach and nearby top-tier retail and restaurants.This property is zoned to permit short-term rentals with the potential to generate $1.8M annual revenue (Estimated STR data obtained from AIRDNA - which is the #1 platform for short-term rental data). It has a market cap of 7.56% operating as an AirBNB and offers any buyer the potential to own one of the hottest short-term rental properties in the Beach Cities.Alternatively, it has the potential to build 3 ADUs. After potential renovations and conversions, the project is projected to stabilize at a 5.8% CAP Rate for long-term rentals. With its A+ location and upside potential, 3901 Highland Ave is a rare opportunity to add a legacy property to your portfolio at a great price and collect income at a strong CAP Rate for years to come while enjoying long-term appreciation.
Property Type(s):
Residential Income
|
Last Updated
|
3/25/2024
|
Year Built
|
1961
|
|
Community
|
Manhattan Bch Sand
|
Garage Spaces
|
13.0
|
|
County
|
Los Angeles
|
Additional Details
| AIR |
None |
| AREA |
Manhattan Bch Sand |
| BUYER'S BROKERAGE COMPENSATION |
2.250 % |
| GARAGE |
Assigned, Yes |
| LOT |
6621 sq ft |
| LOT DESCRIPTION |
11-15 Units/Acre |
| PARKING |
Assigned |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
3 |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Ocean |
| WATER |
Public |
| ZONING |
MNCNE |
Location
Listed with Lyon Stahl Investment Real Est
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/3/24 6:12 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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