Active
3901 Highland Avenue
Manhattan Beach CA, 90266
$11,750,000
$1,241.28 per sqft
Active
9,466 sqft
Multi-family
Built in 1961
Listed by Woody Stahl with Lyon Stahl Investment Real Est 310-425-9838
3901 Highland Ave is a trophy asset situated in the sand section of Manhattan Beach in El Porto. The property currently consists of 14 units with a beautiful courtyard and ocean views from multiple units and the outside decks. The current 9,466 SF building sits on a 6,621 SF lot west of Highland Ave providing easy access to the beach and nearby top-tier retail and restaurants.
This property is zoned to permit short-term rentals with the potential to generate $1.8M annual revenue (Estimated STR data obtained from AIRDNA - which is the #1 platform for short-term rental data). It has a market cap of 7.56% operating as an AirBNB and offers any buyer the potential to own one of the hottest short-term rental properties in the Beach Cities.
Alternatively, it has the potential to build 3 ADUs. After potential renovations and conversions, the project is projected to stabilize at a 5.8% CAP Rate for long-term rentals.
With its A+ location and upside potential, 3901 Highland Ave is a rare opportunity to add a legacy property to your portfolio at a great price and collect income at a strong CAP Rate for years to come while enjoying long-term appreciation.
PW24057517
MLSⓇ ID
March 22, 2024
Listed
April 24, 2024
Updated
Map
3901 Highland Avenue
Manhattan Beach CA, 90266
Interior Features
Total Stories
3
Laundry Description
None
Fireplace
Yes
Fireplace Description
None
Cooling
No
Cooling Description
None
Heating
No
Exterior/Building Features
Lot Size
0.15 Acres
Lot Features
11-15 Units/Acre
Sewer
Public Sewer
Other Property Details
Area Name
142 - Manhattan Bch Sand
Days on Market
32
Garage
Yes
Garage Spaces
13
Parking
Assigned
Parking Total
15
View
Yes
View Description
Ocean
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
MNCNE
Buyer Agency Compensation
2.25%
Listing Contact: 310-425-9838
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/24/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 4/24/2024 at 5:11 AM UTC