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1436 12th Street Manhattan Beach, CA 90266
Sold Price $4,750,000
List Price $4,895,000

Property listed by Stroyke Properties, Inc., Bryn Stroyke. IDX Contact: 310-545-9595

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Bryn Stroyke

Bryn Stroyke

Seller’s Agent

DRE# 00855690

Property Description

This quaint building with 7 comfortable townhome-style apartment units sits on a quiet street in a great neighborhood of East Manhattan Beach. It’s close to Polliwog Park, and the units feature enclosed patios downstairs and large balcony decks upstairs. Occupying a substantial 10,503 sq. ft. lot that has some site specific unique concessions in the zoning code, this building offers plenty of flexibility in terms of investment options.?1. Keep it as-is and continue to lease the units?2. Renovate the building and lease the units at significantly higher rents?It is worth noting that the 2 bedroom/2 bath floor plan makes the units ideal for roommates. 3. Tear the building down and develope a new 10-unit apartment complex 4. Tear the building down and developing 7 new town home condominiums. Architectural feasibility studies are available on both of these options. This location is ideal for families and commuters alike. It’s close to parks, restaurants and shopping, minutes from both downtown Manhattan Beach to the West, and the 405 freeway, to the East. This is a huge opportunity in a great location—with lots of options.

Property Details & Features

Property Type

  • Apartment

Year Built

  • 1973

House

  • 2 total stories
  • Built in 1973
  • No Common Walls
  • Two

Community

  • Street Lights

Cooling

  • No cooling

Expenses

  • Electric Expense: $900
  • Insurance Expense: $2,500
  • Maintenance Expense: $4,000
  • Operating Expense: $67,275
  • Water Sewer Expense: $3,390

Garage

  • 4 garage spaces

Heating

  • Radiant

Income

  • Gross Income: 6600
  • Gross Scheduled Income: 213000
  • Net Operating Income: 139533

Laundry

  • Laundry Room

Listing

  • Listing ID: SB18077643
  • Property Subtype: Apartment
  • 32 days on market
  • Listed on 2018-04-05

Location

  • County: Los Angeles

Lot

  • 10478 sqft

Parking

  • Carport
  • 9 carport spaces
  • 5 open parking spaces
  • 18 total parking spaces
  • Covered

Property

  • Single building
  • 7 units

Sewer

  • Public Sewer

Taxes

  • New Taxes: $53,845

Tenant Pays

  • Electricity

Utilities

  • 8 separate electric meters
  • 0 separate gas meters
  • Electricity Connected
  • Natural Gas Connected
  • Sewer Connected
  • Water Connected

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