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$11,750,000
31 Days Online

3901 Highland Avenue
Manhattan Beach, CA 90266

For Sale|Single Family Home|Active
0
Beds
0
Full Baths
0
Partial Baths
9,466
SqFt
$1,241
/SqFt
1961
Built
County:
Los Angeles
Listed by Woody Stahl of Lyon Stahl Investment Real Est [email protected]

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3901 Highland Avenue3901 Highland Avenue3901 Highland Avenue3901 Highland Avenue
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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 the potential to build 3 ADUs to maximize rental income. After renovations and conversions, the project is projected to stabilize at a 5.02% CAP Rate, making this a unique legacy project in an A+ location. The property currently boasts (4) 2-bed/2-bath units, (1) 2-Bed/1-Bath, (7) 1-Bed/1-Bath Units, and (2) Studio Units. Renovation plans would add (3) more studios and include extensive remodels for the current units, creating multiple luxurious “penthouse suites”, that would rent for over $8,000/Mo. With a total estimated cost of $3MM in rehab/renovations, the property could generate over $1M annually in gross rental income. This property is also 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. The current 9,466 SF building sits on a 6,621 SF lot west of Highland Ave. The property is strategically located in El Porto, one of the hottest rental markets in the country, providing easy access to the beach and nearby top-tier retail and restaurants. With its 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.

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Listing Snapshot
Price 
$11,750,000
Days Online 
31 Days
Bedrooms 
N/A
Inside Area (SqFt) 
9,466 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.152 Acres
Year Built 
1961
MLS® Number 
PW24057517
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
4 weeks agoListing updated with changes from the MLS®
a month agoListing first seen online
General Features
Parking 
Assigned
Parking Spaces 
15
Sewer 
Public Sewer
Number of Stories 
3+3
Acreage 
0.152
Water 
Public
Property Sub Type 
Mixed Use
Garage Spaces 
13
Zoning 
MNCNE
Listing Conditions 
Standard
Interior Features
Cooling 
None
Fireplace Features 
None
Laundry Features 
None
Fireplace 
No
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Exterior Features
View 
Ocean
Pool Features 
None
Lot 
Item1115 Units Acre
Community Features
Community Features 
Biking
Senior Community 
No
MLS Area 
142 - Manhattan Bch Sand


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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