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124 11Th St

Manhattan Beach, CA 90266
  • $6,950,000
  • STATUS: Active
  • ON SITE: 114 Days
  • MLS #: 21-792162
UPDATED: 54 min ago
$6,950,000
  • 4
    BEDS
  • 0.06
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,966
    SQFT
  • $1,752
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1946
County:

School Ratings & Info

Description

NEW UPDATED PRICE! OVER 1 MILLION DOLLAR PRICE REDUCTION. MOTIVATED SELLERS. BRING ALL OFFERS! We are proud to present 124 11th Street, a 4-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 one (1) ground floor retail space 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 combine to 1 retail/office space. Perfect for an OWNER/USER. The property currently has 3 of the 4 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/OFFICE 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 2022-01-28T10:42:33.93. 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.jelmbergteam.com/homes/122115623
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124 11Th St Manhattan Beach, CA 90266

  • Price: $6,950,000
  • Status: Active
  • On Site: 114 Days
  • Updated: 54 min ago
  • MLS #: 21-792162
4
Beds
0
Baths
0
½ Baths
0.06
Acres
3,966
SQFT
$1,752
$/SQFT
1946
Built
Neighborhood:
Manhattan Beach Sand
County:
Los Angeles
Area:
Manhattan Beach Sand
Property Description
NEW UPDATED PRICE! OVER 1 MILLION DOLLAR PRICE REDUCTION. MOTIVATED SELLERS. BRING ALL OFFERS! We are proud to present 124 11th Street, a 4-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 one (1) ground floor retail space 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 combine to 1 retail/office space. Perfect for an OWNER/USER. The property currently has 3 of the 4 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/OFFICE 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 Net Operating Income 218910.00 Number Of Buildings 1 Number Of Units 4 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 2022-01-28T10:42:33.93. 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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