2208 The Strand Manhattan Beach, 90266

Bedrooms:
9
Bathrooms:
8
Square Feet:
5,193 sqft
Price $14,350,000 .00
Approx /month
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Sale Price:
$14,350,000
Loan Type:
Conventional - 5% down
FHA - 3.5% down
VA - 0% down
Additional $ Down:
Total Down Payment:
Loan Term: (years)
Interest Rate: (%)
Property Tax: (year)
$0
Insurance: (year)
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Virtual Tour of 2208 The Strand , Manhattan Beach 90266

Property Description

Introducing 2208 The Strand, an extraordinary trophy income property nestled in the heart of Manhattan Beach. This remarkable four-unit building presents a rare opportunity to own a slice of coastal paradise on one of Southern California's most coveted coastlines, at approximately $3.5M per unit. Spanning a combined 5,193 sq. ft., this beachfront Strand property offers a total of 9 beds and 8 baths across its 3 x 2-bed, 2-bath units and 1 x 3-bed, 2-bath unit. With complete interior and exterior rehabilitation, this property exemplifies luxury living. Each unit boasts panoramic ocean views, allowing residents to soak in the beauty of the Pacific from Palos Verdes to Malibu. With each unit occupying its own floor and no shared walls, privacy and tranquility are assured. The sleek design features smooth coat stucco and Fleetwood glass doors, seamlessly merging contemporary style with the coastal ambiance. In addition to the stunning interiors, the property offers 9 garage parking spaces and laundry facilities, ensuring convenience for residents. The current gross rents of $36,529 per month or $438,348 per year demonstrate the lucrative rental potential of this prime Strand property, with a 33 GRM and pro-forma upside to an impressive 23 GRM and 3.07% cap rate. This centrally located property offers a wealth of options. Whether you choose to live in the owner's unit and rent out the others or maximize the rental income throughout the entire building, this versatile investment provides endless possibilities. Situated within easy access to the beach, downtown Manhattan Beach, and the amenities of North Manhattan, residents can savor the best of coastal living. Don't miss this once-in-a-lifetime opportunity to own a coveted multi-unit building on The Strand. Seller may consider financing at a low 3.5% interest rate. Contact us today to seize this unparalleled investment opportunity.

General Information

Listing Attribution:
Strand Hill Properties
Listing Agent:
Shawn Dugan
CalBRE#:
01749343
Price:
$14,350,000
Status:
Active
Listing Updated:
5/26/2023
List Date:
4/29/2023
Close Date
Square Feet:
5,193
Bedrooms:
9
Bathrooms:
8
Garage Spaces:
9.00
Year Built:
1972
City:
Manhattan Beach
Zip:
90266
County:
Los Angeles
MLS ID:
SB23083650
Buyer Agency Compensation:
2.500%
Buyer Agency Compensation Disclaimer:
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Home Features

Interior Features:
Balcony
Exterior Features:
Appliances:
Gas Cooktop, Gas Oven, Water Heater
Flooring:
Laundry:
Common Area, In Garage
Architectural Style:
Levels:
Three Or More
Fireplace Features:
Living Room
Cooling:
None
Heating:
Wall Furnace
Utilities:
Pool Type Features:
None
Spa Features:
None
Construction Materials:
Roofing:
Flat
Water Source:
Public
Sewage:
Public Sewer
Accessibility Features:

Community Information

MLS Area:
142 - Manhattan Bch Sand

Lot Information

Lot Size (sq feet):
3,512

Location Information

Directions:
From Highland Ave go west on Marine and right on Ocean Dr.