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Listing 1 out of 115
Sold for $5,500,000 Sold

480 Rosecrans Avenue
Manhattan Beach, CA 90266

8 units | Multi Family Home
5885 sq ft - MLS# SB19032024
Property Photo

Sold

Sold for $5,500,000 on Apr 12, 2019

Description

A rare opportunity for this beautiful remodeled 8-unit (2 non-conforming) ocean view apartment building in the Sand Section of Manhattan Beach! Over $200K in improvements! Most units have been completely redone with hardwood flooring, new kitchen and bathroom cabinetry, new appliances, new plumbing, new paint plus much more. These units sparkle!! Unit make up is 5 2 bedrooms/2 Bathroom units, one 4bed/4ba unit, one 1bed/1ba and one single with full kitchen and bath. The property is situated on an over-sized street to alley double lot with 10 covered parking spaces and additional tandem parking for a total of 18 parking spaces!! Truly an extraordinary opportunity with tons of potential in income as well as future building opportunities!

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Closed
  • Listing Price: $5,600,000
  • Zip Code: 90266
  • Year Built: 1974
  • Units: 8 units
  • # of Parking Spaces: 10.00
  • Lot Size: 5885 sq ft
  • View: Ocean,Peek-A-Boo, Yes
  • Zoning: MNRM-D1
  • Area: 142 - Manhattan Bch Sand
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 6738.00
  • Building Area Units: Square Feet
  • Cap Rate: 3.20
  • Carport Spaces: 10.00
  • Co-Listing Agent License: 00952732
  • Co-Listing Office License: 01967052
  • Co-Selling Agent License: 00952732
  • Co-Selling Office License: 01967052
  • Common Walls: 2+ Common Walls
  • Community Features: Sidewalks
  • Country: US
  • Directions: Rosecrans
  • Electric Expense: 1932.00
  • Fuel Expense: 3300.00
  • Gross Income: 270240.00
  • Gross Multiplier: 22.00
  • Gross Scheduled Income: 270240.00
  • Insurance Expense: 5063.00
  • Laundry Features: Individual Room
  • Laundry Income: 75.00
  • Laundry YN: Yes
  • Listing Agent License: 00688380
  • Listing Office License: 01967052
  • Lot Features: Level with Street
  • Lot Size Area: 5883.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Net Operating Income: 179138.00
  • New Taxes Expense: 65450.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Operating Expense: 91102.00
  • Parking Features: Carport
  • Parking YN: Yes
  • Property Attached YN: Yes
  • Roof: Flat
  • Selling Agent: Carole Hansen
  • Selling Agent License: 00688380
  • Selling Office: Engel & Volkers La-South Bay
  • Selling Office License: 01967052
  • Sewer: Public Sewer
  • Total Expenses: 93262.00
  • Trash Expense: 2376.00
  • Water Sewer Expense: 2120.00
  • Water Source: Public
  • Year Built Source: Assessor
  • Sold Date: 2019-04-12 00:00:00
  • Sold Price: 5500000.00
Courtesy of Engel & Volkers La-South Bay, Carole Hansen

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Krystyna Ryan
Ryan Team

Broker Associate
The Real Estate Group
Phone: 310.918.5027
Email: krystynarealestate@gmail.com
BRE # 01485187

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Krystyna Ryan | Broker Associate | The Real Estate Group
Phone: 310.918.5027 | Email: krystynarealestate@gmal.com
BRE # 01485187