1826-1828 12th St - Apartments FOR SALE


Manhattan Beach, CA 90266
$5,695,000 USD
310-710-3829
1826-1828 12th St, Manhattan Beach, CA for Sale
$5,695,000 USD
Apartments - FOR SALE
1/28
null | 4.23% Cap Rate

1826-1828 12th St
Manhattan Beach, CA 90266


HIGHLIGHTS

  • Attractive Unit Mix: All 2-Bed/1-Bath Units
  • Two Vacant Units Provide Immediate Upside + Nearly All Occupied Units Eligible For Maximum Allowable Rent Increase Per AB 1482
  • 5.00% Pro Forma CAP | 14.51 Pro Forma GRM | 6 of 10 Units Have Undergone Various Renovations
  • Upgrades to Building Since 2023: Full Roof Repair, New Subpanels, SB 721 Compliance
  • Two-Building Layout Totaling Approximately 6,384 SF on an 8,254 SF Lot
  • On-Site Parking & Laundry Facilities | In-Unit Laundry in Three Units

OVERVIEW

1826-1828 12th Street presents a rare opportunity to acquire a 10-unit multifamily property in a desirable Manhattan Beach location. The property features an attractive unit mix consisting entirely of 2-bed/1-bath units across two buildings totaling approximately 6,384 square feet on an 8,254 square foot lot. The property offers immediate upside through two vacant units, while nearly all occupied units are eligible for the maximum allowable rent increase under AB 1482. Six of the ten units have undergone various renovations, and ownership has completed several building improvements since 2023, including a full roof repair, new subpanels, and SB 721 compliance. Additional amenities include on-site parking and laundry facilities, with in-unit laundry in three units. Located within walking distance of Trader Joe’s and minutes from Polliwog Park, Manhattan Beach Middle School, and the Redondo Beach Performing Arts Center, the property offers investors a compelling combination of location, immediate upside, and long-term value.

FOR SALE DETAILS

PRICE

$5,695,000 USD

PRICE/SF

$892 USD /SF

# OF UNITS

10

PRICE/UNIT

$569,500

CAP RATE

4.23%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

8,032 SF

ZONING

R3, Manhattan Beach

APN/PARCEL ID

4165-024-026

ASK ABOUT THIS PROPERTY

Woody StahlLyon Stahl Investment Real Estate, Inc.More Info
310-710-3829

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Woody StahlLyon Stahl Investment Real Estate, Inc.More Info
310-710-3829

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.