$11,750,000
3901 Highland Avenue, Manhattan Beach 90266
5
Beds
5
Baths
6,621
Lot Size
14
# Of Units
Listing Agent
Woody Stahl - Lyon Stahl Investment Real Est3901 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.
Facts & Features
MLS® # | PW24057517 |
---|---|
Price | $11,750,000 |
Bedrooms | 5 |
Bathrooms | 5.00 |
Lot Size | 6,621 |
Year Built | 1961 |
Type | Residential Income |
Sub-Type | Mixed Use |
Status | Active |
# Of Units | 14 |
Community Information
Address | 3901 Highland Avenue |
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Area | 142 - Manhattan Bch Sand |
City | Manhattan Beach |
County | Los Angeles |
Zip Code | 90266 |
Amenities
Parking Spaces | 15 |
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Parking | Assigned |
# of Garages | 13 |
Garages | Assigned |
View | Ocean |
Is Waterfront | No |
Has Pool | No |
Pool | None |
Interior
Cooling | None |
---|---|
Has Basement | No |
Fireplace | No |
Fireplaces | None |
# of Stories | 3 |
Stories | Three Or More |
Exterior
Lot Description | 11-15 Units/Acre |
---|
Additional Information
Date Listed | March 22nd, 2024 |
---|---|
Days on Market | 40 |
Zoning | MNCNE |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Woody Stahl |
---|---|
Office | Lyon Stahl Investment Real Est |