This is THE STRAND income property *HOLD or BUILD* opportunity you've been waiting for! On what is arguably the most coveted beach front street in Southern California, you'll enjoy unprecedented appreciation with 100% year round tenancy! You can invest in capital improvements immediately (possibly significantly increase the finished square footage on the 3rd and 4th levels) and can always Build your Dream Home in the future! The existing 4 unit property has a combined 5193 interior sq ft with (3) 2 Bed, 2 Bath units and (1) 3 Bed, 2 Bath unit. Totaling 9 beds, 8 baths, and 9 covered parking spaces, this beachfront STRAND property will be rented year round at top of market rents! Current Gross rents $18,530/mo or $216,800/yr.
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Manhattan Beach draws many for its great beaches and surf and charming downtown. This beach community invented beach volleyball and is known for a laidback glamour that makes it popular with celebrities and with local professional athletes, some of whom train in nearby El Segundo.
Real Estate: Manhattan Beach real estate has several main sections, the Tree Section, the Hill Section and the Sand Section. The Tree Section is a desirable area that is still close to the beach and downtown. Homes for sale here often have a bit of a backyard and the neighborhood offers a wide variety of single-family homes for sale from older bungalows to newer homes. The Hill Section includes larger homes, many with ocean views. In the Sand Section near the beach The Strand, the long walk along the beach, offers some of the most expensive real estate in the area which offers not just a distant ocean view but a closer look at the pounding surf.
Community Life: Community life is often beach-centered whether it’s testing out the surf, hitting the volleyball court, or strolling along Manhattan Beach Pier. The city hosts an annual volleyball tournament and an international surf festival each summer. The Manhattan Beach Farmers’ Market takes place every Tuesday at Metlox Plaza, the former home of Metlox Pottery and a popular shopping and dining destination.
Education: Manhattan Beach is known for having well-regarded schools and the Manhattan Beach Unified School District is one of the top performing school districts in the state. There are five elementary schools: Grandview, Meadows, Pacific, Pennekamp, and Robinson; ne middle school, Manhattan Beach Middle School, and one high school, Mira Costa which was recognized as a California Distinguished School in 2011. Local private schools include American Martyrs Catholic School, Manhattan Academy, Montessori School of Manhattan Beach, and Journey of Faith Christian School.
Transportation: Manhattan Beach is accessed by Pacific Coast Highway as well as by the 405 and 105 freeways. Beach Cities Transit consists of two routes that connect Manhattan Beach with Redondo, Hermosa, and El Segundo as well as providing transit connections with other lines including Metro Bus & Rail and Torrance Transit.
Local Attractions: The Roundhouse Aquarium at the end of the Manhattan Beach Pier is open daily with free admission. Downtown offers plenty of shopping and strolling. The Strand is often filled with joggers, tourists, and others enjoying another beautiful day in Manhattan Beach. The area is also notable for its amazing sunsets which are popular and widely photographed.
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