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2007 Highland Ave
Manhattan Beach, CA 90266
Multifamily Property For Sale
·
2 Units
Investment Highlights
- Prime Manhattan Beach duplex with a two-bedroom/one-bath unit, a studio apartment, garage parking and a private patio
- Two-bedroom occupies the upper floor and boasts ocean views and vaulted ceilings
- Recent improvements include new water heaters, upgraded plumbing, electrical, and exterior stairs, and a new bathroom in the studio
- Irreplaceable location in “The Sand Section” steps to the beach and walkable to the Manhattan Beach Pier and world-class dining and retail
- Major value-add opportunity with 52 percent rental upside
Executive Summary
Marcus & Millichap is pleased to present to market the exciting opportunity to acquire a prime Manhattan Beach duplex just one block from the sand and near the iconic Manhattan Beach Pier. This property is an excellent acquisition opportunity for any investor seeking an asset with value add potential in a trophy coastal location.
Located at 2007 Highland Avenue, this duplex consists of a studio apartment on the ground floor and a two-bedroom/one-bath unit on the second floor. The studio features a remodeled bathroom, a sizable kitchen for a studio, and a separate sleep area. The two-bedroom unit boasts stunning vaulted ceilings and peekaboo ocean views. The property also offers garage parking, a private patio, new water heaters, and upgraded plumbing and electrical.
Current rents are well-below market rates and offer a new investor a substantial 52 percent potential upside.
Located at 2007 Highland Avenue, this duplex consists of a studio apartment on the ground floor and a two-bedroom/one-bath unit on the second floor. The studio features a remodeled bathroom, a sizable kitchen for a studio, and a separate sleep area. The two-bedroom unit boasts stunning vaulted ceilings and peekaboo ocean views. The property also offers garage parking, a private patio, new water heaters, and upgraded plumbing and electrical.
Current rents are well-below market rates and offer a new investor a substantial 52 percent potential upside.
Property Facts In Escrow
| Price Per Unit | $937,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.02 AC |
| No. Units | 2 | Building Size | 1,130 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1939 |
| Price Per Unit | $937,500 |
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 1,130 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1939 |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 2+1 | 1 | - | - |
Property Taxes
| Parcel Number | 4178-012-032 | Improvements Assessment | $70,900 |
| Land Assessment | $137,436 | Total Assessment | $208,336 |
Property Taxes
Parcel Number
4178-012-032
Land Assessment
$137,436
Improvements Assessment
$70,900
Total Assessment
$208,336
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