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    124 11Th St

    Manhattan Beach, CA 90266
    • $7,950,000
    • STATUS: Active
    • ON SITE: 11 Days
    • ID#: 21-792162
    UPDATED: 57 min ago
    $7,950,000
    • 4
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,966
      SQFT
    • $2,005
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1946
    County:

    School Ratings & Info

    Description

    We are proud to present 124 11th Street, a 5-unit mixed use asset located in the heart of downtown Manhattan Beach. One of the most desirable locations in all of Manhattan Beach, 124 11th Street is just steps from the ocean, Manhattan Beach Pier, and some of the hottest restaurants, shops and nightlife within walking distance. The residential units offers spectacular ocean views as they overlook the Manhattan Beach pier, sand and ocean waves. Built in 1946, the property has a great unit mix of three (3) residential units with ocean views and two (2) ground floor retail spaces which is located near the hottest retail spaces in the area. The apartment units consist of (1) two-bedroom, two-bathroom and (2) one-bedroom/ one-bathroom units. The property has undergone recent improvements including a new roof (Installed in 2020). Upon entering this property, you will find two separate entrances to two ground floor retail spaces which can combine to 1 retail space if needed or attract two retail boutique stores. The property currently has 4 of the 5 units vacant, with the remaining tenant willing to move out with 60 day notice. This investment provides the perfect opportunity for an owner/user to occupy one of the magnificent ocean view apartment units and/or occupying the retail space and renting out the other units for passive income. This is a trophy property that rarely hits the market. This iconic building in prime Downtown Manhattan Beach would be a prized asset in any investors real estate portfolio! Offering Memorandum can be provided upon request.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-17T22:42:21.917. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.theparsonsrealestateteam.com/homes/122115623
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    124 11Th St Manhattan Beach, CA 90266

    • Price: $7,950,000
    • Status: Active
    • Updated: 57 min ago
    • ID#: 21-792162
    4
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    3,966
    SQFT
    $2,005
    $/SQFT
    1946
    Built
    Neighborhood:
    Manhattan Beach Sand
    County:
    Los Angeles
    Area:
    Manhattan Beach Sand
    Property Description
    We are proud to present 124 11th Street, a 5-unit mixed use asset located in the heart of downtown Manhattan Beach. One of the most desirable locations in all of Manhattan Beach, 124 11th Street is just steps from the ocean, Manhattan Beach Pier, and some of the hottest restaurants, shops and nightlife within walking distance. The residential units offers spectacular ocean views as they overlook the Manhattan Beach pier, sand and ocean waves. Built in 1946, the property has a great unit mix of three (3) residential units with ocean views and two (2) ground floor retail spaces which is located near the hottest retail spaces in the area. The apartment units consist of (1) two-bedroom, two-bathroom and (2) one-bedroom/ one-bathroom units. The property has undergone recent improvements including a new roof (Installed in 2020). Upon entering this property, you will find two separate entrances to two ground floor retail spaces which can combine to 1 retail space if needed or attract two retail boutique stores. The property currently has 4 of the 5 units vacant, with the remaining tenant willing to move out with 60 day notice. This investment provides the perfect opportunity for an owner/user to occupy one of the magnificent ocean view apartment units and/or occupying the retail space and renting out the other units for passive income. This is a trophy property that rarely hits the market. This iconic building in prime Downtown Manhattan Beach would be a prized asset in any investors real estate portfolio! Offering Memorandum can be provided upon request.
    Exterior Features

    Covered Parking 4 Lot Size Area 2711 Other Structures None Parking Garage Covered ParkingGarage - 2 CarGarage Total Parking 4

    Interior Features

    Baths Total 5.00 Cooking Appliances OvenMicrowave Cooling Air ConditioningCentral Equipment DishwasherDryerBuilt-InsFreezerRange/OvenRefrigerator Heating Central Laundry In ClosetGarageLaundry AreaInsideIn Unit Laundry Equipment Own

    Property Features

    Assessed Total Value 2449988 Gross Income 323340 Gross Operating Income 323340 Like Units1 1 Like Units2 2 Like Units3 3 Like Units4 4 Like Units5 5 Net Operating Income 218910.00 Number Of Buildings 1 Number Of Units 5 Sale Type Standard Source Living Area Assessor Source Lot Size Area Vendor Enhanced Total Annual Expense 104430 Type Of Units 5 Year Built Source Vendor Enhanced Zoning Mnrh

    Listing provided courtesy of Sasha Rahban DRE#01849286 of Saravita Properties Inc.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-17T22:42:21.917. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    The Parsons Team | Keller Williams Realty
    251 S. Lake Ave #150
    Pasadena CA, 91101