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Jack Palmer

Jack Palmer
Palm Realty Boutique
Manhattan Beach, CA
DRE# 01302496

310-422-1828
Contact Me

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Listing 18 out of 147
Sold for $4,900,000 Sold

1200 Manhattan Avenue
Manhattan Beach, CA 90266

3 units | Multi Family Home
3324 sq ft - MLS# SB18082081
Property Photo

Sold

Sold for $4,900,000 on May 25, 2018

Description

ONE OF THE FEW REMAINING SOUTH FACING, FULL STREET TO ALLEY CORNER LOT RIGHT IN THE MIDDLE OF DOWNTOWN MANHATTAN BEACH. LOT SLOPES UP FROM MANHATTAN AVE. TO BAYVIEW PROVIDING DYNAMIC OCEAN VIEWS. MOST OF THE VALUE IS IN THE LAND AND BEST USE IS PROBABLY DEVELOPMENT OF EITHER TWO TOWNHOMES OR A VERY LARGE SINGLE FAMILY HOME. EITHER WAY YOU WILL HAVE INCREDIBLE OCEAN VIEWS FROM PV TO MALIBU. LOWER COMMERCIAL BUILDINGS ACROSS THE STREET SHOULD PROVIDE BEAUTIFUL VIEWS FOR BOTH UNITS. PROPERTY IS CURRENTLY A FULLY RENTED TRIPLEX WITH GREAT TENANTS WHO WOULD MOST LIKELY WANT TO STAY. FRONT HOUSE ON MANHATTAN AVE COULD USE SOME TLC BUT HAS A LOT OF CHARM AND CURRENTLY HAS PANORAMIC OCEAN VIEWS FROM THE UPSTAIRS. HOUSE HAS 3 BEDROOMS AND 2 FULL BATHS AS WELL AS A LOFT UPSTAIRS THAT COULD BE A GREAT OFFICE. HARDWOOD FLOORS AND LAUNDRY. REAR 2 BEDROOM IS IN VERY GOOD SHAPE AND ALSO HAS GREAT OCEAN VIEWS. LARGE BEDROOMS AND 2 FULL BATHS. STUDIO IS VERY BASIC BUT LONG TERM TENANT WHO WOULD LOVE TO STAY. 3 CAR GARAGE IN THE BACK ON BAYVIEW. THIS BUILDING WOULD PROVIDE NEARLY $10k PER MONTH IN INCOME WHILE YOU GET PLANS DRAWN AND APPROVED. COULD ALSO BE A GOOD LONG TERM HOLD AS THERE AREN'T MANY OF THESE LOTS LEFT THIS CLOSE TO EVERYTHING. PLEASE DO NOT DISTURB TENANTS OR WALK THE PROPERTY. SEE AGENT REMARKS REGARDING DEVELOPMENT POTENTIAL WITH THE CITY OF MB.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Closed
  • Listing Price: $5,000,000
  • Zip Code: 90266
  • Year Built: 1956
  • Units: 3 units
  • # of Parking Spaces: 3.00
  • Lot Size: 3324 sq ft
  • Zoning: MNRH
  • Area: 142 - Manhattan Bch Sand
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 2800.00
  • Building Area Units: Square Feet
  • Common Walls: 1 Common Wall
  • Community Features: Street Lighting
  • Country: US
  • Directions: NORTH EAST CORNER OF 12TH ST. AND MANHATTAN AVE.
  • Garage Spaces: 3.00
  • Gross Income: 116400.00
  • Gross Scheduled Income: 116400.00
  • Heating: Central Furnace
  • Heating YN: Yes
  • Insurance Expense: 2500.00
  • Laundry Features: In Kitchen
  • Laundry YN: Yes
  • Listing Agent License: 01173922
  • Listing Office License: 01968431
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 2000.00
  • Net Operating Income: 33100.00
  • New Taxes Expense: 61000.00
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 2
  • Operating Expense: 83300.00
  • Property Attached YN: Yes
  • Selling Agent: Nazzy Daneshvar
  • Selling Agent License: 01020469
  • Selling Office: Berkshire Hathaway Homeservice
  • Sewer: Public Sewer
  • Total Expenses: 68500.00
  • Trash Expense: 1500.00
  • Water Sewer Expense: 1500.00
  • Water Source: Public
  • Year Built Source: Estimated
  • Sold Price: 4900000.00
  • Sold Date: 2018-05-25 00:00:00
Courtesy of Strand Hill Christies International Real Estate, Jack Cummings

Jack Palmer | 310-422-1828 | Contact Me
401 Manhattan Beach Blvd Suite B - Manhattan Beach, CA 90266
Copyright © 2018, All Rights Reserved

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