2007 Highland Ave - Apartments FOR SALE


Manhattan Beach, CA 90266
$2,175,000 USD
424-405-3826
2007 Highland Ave, Manhattan Beach, CA for Sale
$2,175,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

2007 Highland Ave
Manhattan Beach, CA 90266


HIGHLIGHTS

  • Prime Manhattan Beach duplex with a two-bedroom/one-bath unit, a studio apartment, garage parking and a private patio
  • Irreplaceable location in “The Sand Section” steps to the beach and walkable to the Manhattan Beach Pier and world-class dining and retail
  • Two-bedroom occupies the upper floor and boasts ocean views and vaulted ceilings
  • Major value-add opportunity with 52 percent rental upside
  • Recent improvements include new water heaters, upgraded plumbing, electrical, and exterior stairs, and a new bathroom in the studio

OVERVIEW

Marcus & Millichap is pleased to present to market the exciting opportunity to acquire a prime Manhattan Beach duplex just one block from the sand and near the iconic Manhattan Beach Pier. This property is an excellent acquisition opportunity for any investor seeking an asset with value add potential in a trophy coastal location. Located at 2007 Highland Avenue, this duplex consists of a studio apartment on the ground floor and a two-bedroom/one-bath unit on the second floor. The studio features a remodeled bathroom, a sizable kitchen for a studio, and a separate sleep area. The two-bedroom unit boasts stunning vaulted ceilings and peekaboo ocean views. The property also offers garage parking, a private patio, new water heaters, and upgraded plumbing and electrical. Current rents are well-below market rates and offer a new investor a substantial 52 percent potential upside.

FOR SALE DETAILS

PRICE

$2,175,000 USD

PRICE/SF

$1,925 USD /SF

# OF UNITS

2

PRICE/UNIT

$1,087,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1939

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.02 AC

LAND SF

1,068 SF

ZONING

-

APN/PARCEL ID

4178-012-032

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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