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232 29th St - Walkstreet Triplex in Manhattan Beach 3 Unit Apartment Building Offered at $3,995,000 at a 4.61% Cap Rate Manhattan Beach, CA 90266
INVESTMENT HIGHLIGHTS
- Triplex on a Walkstreet in Manhattan Beach| Full 2,698 SF Street-to-Alley Lot
- Great Unit Mix: (3) 2-Bed/2-Bath Units | Large 4-Car Garage + 2 Carport
- Owner’s Townhome Style Unit (Delivered Vacant) Features Upstairs Balcony on a Walkstreet & High Ceilings
- Pride of Ownership Property & Great Owner-User Opportunities w/ All 3 Units Being Delivered Vacant
- (2) Rooftop Areas with Panoramic Ocean Views | Located in the Coastal Zones w/ Opportunity to Rent as Air BNB
- Coveted Location in Manhattan Beach, Steps from the Strand and the 30th Street Lifeguard Tower, and 2 Blocks From Bruce’s Beach
EXECUTIVE SUMMARY
232 29th Street is a rare triplex opportunity located on a highly coveted walkstreet on a full street-to-alley lot in the heart of Manhattan Beach. Just steps from the Strand and the 30th Street lifeguard tower—and only two blocks from Bruce’s Beach—this pride-of-ownership property blends timeless coastal charm with exceptional owner-user flexibility.
The building features an ideal unit mix of (3) spacious 2-bedroom, 2-bathroom units, with two units being delivered vacant—perfect for an owner-occupant or value-add investor. The owner’s unit, also delivered vacant, showcases high ceilings and a private upstairs balcony that opens directly onto the walkstreet, creating a true indoor-outdoor beachside living experience. There is also ample parking with a large 4-car garage and 2 additional carport spaces.
Residents enjoy access to private rooftop areas with panoramic ocean views stretching from Palos Verdes to Malibu—an elevated amenity that enhances both lifestyle and long-term value.
Further enhancing the investment potential, the property is located in the Coastal Zone, allowing for the possibility of short-term rental use—ideal for maximizing income in a premier beachside location.
With its unbeatable location, versatile layout, and incredible views, 232 29th Street presents a rare opportunity to own a prime piece of Manhattan Beach just steps from the sand.
The building features an ideal unit mix of (3) spacious 2-bedroom, 2-bathroom units, with two units being delivered vacant—perfect for an owner-occupant or value-add investor. The owner’s unit, also delivered vacant, showcases high ceilings and a private upstairs balcony that opens directly onto the walkstreet, creating a true indoor-outdoor beachside living experience. There is also ample parking with a large 4-car garage and 2 additional carport spaces.
Residents enjoy access to private rooftop areas with panoramic ocean views stretching from Palos Verdes to Malibu—an elevated amenity that enhances both lifestyle and long-term value.
Further enhancing the investment potential, the property is located in the Coastal Zone, allowing for the possibility of short-term rental use—ideal for maximizing income in a premier beachside location.
With its unbeatable location, versatile layout, and incredible views, 232 29th Street presents a rare opportunity to own a prime piece of Manhattan Beach just steps from the sand.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $3,995,000 | Property Type | Multifamily |
| Price Per Unit | $1,331,667 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 4,195 SF |
| Cap Rate | 4.61% | No. Stories | 2 |
| Gross Rent Multiplier | 19.44 | Year Built | 1957 |
| No. Units | 3 | ||
| Zoning | RH - Residential High-Density zoning | ||
| Price | $3,995,000 |
| Price Per Unit | $1,331,667 |
| Sale Type | Investment |
| Cap Rate | 4.61% |
| Gross Rent Multiplier | 19.44 |
| No. Units | 3 |
| Property Type | Multifamily |
| Lot Size | 0.07 AC |
| Building Size | 4,195 SF |
| No. Stories | 2 |
| Year Built | 1957 |
| Zoning | RH - Residential High-Density zoning |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 3 | $6,250 | - |
1 1
Walk Score®
Very Walkable (78)
CONTACTS
-
Brett Lyon -
Julie Lyon -
Stephanie Lyon -
Woody Stahl -
Lyon Stahl Investment Real Estate, Inc.
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232 29th St - Walkstreet Triplex in Manhattan Beach
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